Pros
Your team will be some of the best people you work with. They are incredibly talented and hard working individuals that are there for you through thick and thin. The client teams are also lovely people to work with. Some of them are tough eggs to crack, but once you do it is so rewarding. You will work with some of the brightest and most knowledgable people in the industry.
Cons
Support from senior management is lacking. Processes are agreed with the client, but unfortunately how these changes affect the team's day to day and if the process is actually achievable is not considered and reviewed thoroughly enough. Not enough staff to support the demands and high turn around required by the client. A lot of the team work late evenings and weekends in order to deliver for the client. Pay brackets are unfair so try to negotiate the best pay you can. Employees who've been with the company for years and proved their worth are earning less than new team members coming in with no experience in the industry.