Pros
Good bonuses assuming you work for a partner that lets you bill all of your hours. Interesting projects for the most part.
Cons
Partner politics are rampant and the ones with the best game theory strategy take all. Talent wars driven by senior management make team building next to impossible and results in overworked mid level managers and directors and low morale. Little room for the advancement of existing talent due to heavy non producing partners. Partners see marketing efforts of mid level management and directors as power threats rather than as a team effort to be rewarded. Too many staff hires on the friends and family plan complicates talent management process. Too much emphasis on utilization kills culture and staff development efforts.