Pros
There are times where direct management has the ability to make decisions and do things that directly support IT staff. Direct management tries to foster a culture of non-toxic productivity and is genuinely good to work with and for.
Cons
C-suite makes decisions that are overall terrible. If you expect them to ultimately care about you as an employee, forget it. Any opportunities for advancement within the department have been squashed because it was "costing too much." Benefits have been stripped and the cost has increased exponentially to the extent that employees make less than they did 5 years ago. Annual performance increases are a joke, but deadlines are tighter and goals are more difficult to reach. Overall, if you want to feel like you're accomplishing anything or being remotely productive, go elsewhere. This is not the job for you.