The company is run by investors whose primary goal is for the company to be as profitable as possible. This puts stress on all the employees there to be a billable as possible. Billability goals of 95% or 100% are typical for ERM consultants (you have to be working on something that ERM can charge for at least 38 hours per week). If you consistently work 60 hours per week, don't expect to get much more than a "thanks for helping our office's billability numbers". The burden is on each employee to meet the goal, otherwise you attract negative attention and predictable conversations with management. This is BS especially for the entry-level workers who have little to no control over what is handed to them. It is expected that you work over your 40 hours to meet these goals. Workers get stressed and it affects their personal lives if they're not billable enough. Project Managers get stressed out over this too. A lot of stress in general.
Office atmosphere can be cold and political; I attribute this atmosphere to the stresses listed above
As others have said, development of junior employees can be better. Opportunities for classes and training are available, but that may take away from your billability, which can be problematic