Pros
A good place to start your career as a fresher, you have freedom and immense technical challenges and opportunities to learn. You wont be on bench, day 1 onwards you are charge of your task. Even if you are on bench, you time will be spent productively as you will be used as extras for some or other project. Learning curve is excellent. You will learn a lot of things in short time. Here they expect self learners, mentors are almost non existent. Work life balance is good. Great minds to work with, new ideas are encouraged. Helpful and knowledge sharing colleagues.
Cons
Sometimes you need to stay late and work, but I wouldn't say its a bad thing especially when all team members are with you working... you just don't realize how long you have been working