Pros
The culture is amazing-everyone works hard but is very friendly and collaborative
Salary and benefits are very competitive
Very flat organization-can walk into anyone's office anytime and they will stop to listen
Good advancement opportunities
No micromanaging-the focus is on results
Flexibilty
They have snacks for the whole company several times a weeks (pizza, wings, fruit and veggie trays, nuts, pastries, coffee, hot chocolate, etc.)
Cons
People get hung up on what the "norm" culturally should be and anything that falls outside that is wrong
This can be a pro or a con depending on who you are but 40|86 isn't very structured, there aren't a lot of defined ways of doing things, specific trainings or red tape. I personally flourish in that type of environment but some people would prefer the structure.