Pros
Generally free of bureaucracy, but mostly because there are no processes worth mentioning and the word "meritocracy" is unknown to upper management. If they like you then you can do what you want.
Cons
This is a second rate organisation. The clients are generally middle-market and mid-tier. The leadership (outside of restructuring) are generally B players. The staff are a mix, with some A players (usually former MBB but some Big Four), a thick layer of B players, and a surprising number of Cs and Ds. There is limited accountability and sub-optimal cross-practice coordination. The variability between practices is high. Restructuring, Private Equity Performance Improvement, Tax, and Disputes and Investigations are first rate. Valuation is also very strong. Insurance has some strong personalities and generally is a good practice. Financial Services is a disaster. Poor leadership, exceptionally poor accountability, and poor decision making are rife. Avoid the cyber team there at all costs, the MD is incompetent (he even misspelled the company's own name on promotional material!). Corporate Performance Improvement needs someone who knows corporate performance improvement to improve their corporate performance, but has some good people. Back office functions are sloppy and weak. Basic capabilities such as time entry and travel booking are Stone Age.