Pros
You will always stay busy.
Cons
Moving up another progression level (i.e eng I to eng II, etc.) results in such a small increase in pay, most believe its not worth it to stay or try to outperform in their jobs since they feel not appropriately compensated for it - which contributes to massive exits . There are numerous engineers whose vesting contract is coming up and are expected to leave shortly after for better benefits and pay from surrounding companies. There is an extreme lack of training, you can get thrown into new role without any knowledge of how to do that job (sink or swim mentality) - not to mention some key people retiring soon and many experienced persons already left, not a good outlook. Will be expected to increase responsibilities on a drop of a pens notice without any additional training or compensation.