The company lacks leadership. Management complains all the time about the projects that are being worked on, making it hard to feel excited or enjoy the work. Project planning is a joke. Weeks are wasted on this, and then they seem surprised when clients complain. Management also has no trust in their lower level employees, taking every new project that comes along for themselves and leaving nothing to work on for anyone else. The company also recruits heavily from students straight out of college, who have degrees not even relevant to the work, so they can pay extremely low salaries just to get a bigger staff. There are no bonuses and you can forget about getting a raise - reviews purposely focus on the few negatives you may have and pass over all of the positives so they don't have to pay you more. Oh, and you're lucky if you ever get a review, they tend to happen 6 months or later when they actually should.
