Pros
Great place to get experience if you are an ambitious person. Take the job here if you're looking for experience, or simply love engineering work above all else. Depending on who you end up working for, they will likely throw you into the work environment with minimal training, if any at all. You're expected to immediately start contributing, which really forces you to work independently and think on your feet.
Cons
They take pride in getting as much work as they can out of you while paying as little as they possibly can. Expect to be paid 20-30% below fair market salary. Highly political environment. Organization could be better. Overtime work is an expectation in some situations- very dependent on the project and who you end up working for.