It's a lifestyle so I can't fault the company for that. If you so choose to go down this route, there is a small chance that you make it past a year. There are just too many tangibles that keep you from succeeding (staffing competition, lazy managers, whiny unreliable and senseless account managers, etc.)
A few of the many cons:
Management treated us like children so it felt like a high school at times. They kept important information from us although we heard about it from other offices (example: a large enterprise wide deal falling through)
Lack of respect and the persistent feeling of doom is my way of throwing it all together in one phrase.