Pros
The fellow employees will bend over backwards to get stuff done or refer you to the right people. You can work from home. You have many opportunities to work with different clients and technologies. Changing which account you work is like changing jobs because they have their own tool sets, environments, processes, staff and etc. So you don't get in a rut.
Cons
Work force reductions are constant so always feed the axe hanging over you. No such thing as a 40 hour week, too much work and many different time zones. Never have the resources you need to get stuff done. The organizational changes and layoffs make finding who is responsible for delivering a service difficult. Not unusual for upper management to make meetings very uncomfortable with terse remarks, yelling and changing the requirements. Every improvement is tied directly to workforce reduction.