Pros
The projects are thought provoking and interesting. A lot of the projects here have a substantial impact in public policy. A lot of opportunities for responsibilities, management for those with just a bachelor's degree.
Cons
While the people are somewhat intelligent, they think they are much, much smarter than reality shows. To summarize, a lot of the people with just BA/BS (which surprisingly are on average more arrogant than the people with PhDs) are smart, but not good enough to cut it in an actual competitive environment (like econ grad school, which is what a lot hope to acheive). Senior management is an absolute disaster. They claim to be "tough and honest" while preaching a meritocracy, but unfortunately they spend more time scheming, behind people's backs instead of doing things that are just a given in other companies (example: performance evauatons, structure, adressing weaknesses directly). In addition, nepotism is a hugh problem, resulting in a large number of incompetent people in high positions. Middle management unfortunately picks up a lot of these bad habits (except for the nepotism part). Many managers are dishonest with their workers, which leads to zero growth.