Pros
There really are no pros. Maybe the benefits are OK. They do the best they can with that. More cons than pros, that's for sure.
Cons
Where to start... Most middle managers hired from outside the company usually fail with in 6 months to a year. That assumes that they're not besties with a VP or owner. I personally was looked over for promotion because one of the owners' family members also applied for the job. I've been in meetings where supervisors and managers have said that they just want people with a heartbeat to fill the seats. I had a supervisor (the one who is related to an owner) tell me that I should treat subordinates like dogs. I know there was a case where HR tried to get employees that were dating to file a sexual harassment complaint (even though they didn't report to each other.) I know a VP loaned an agent money using company funds. I know of at least 3 cases of wrongful termination that the company settled in court. If you like drama and want to be treated poorly, this is the place for you. I wish I could have those 5 - almost 6 years back.