Pros
Frequent travel, chance to see the world... All expenses covered at all times by the company (food, dry cleaning, car, other transport expenses etc..) Chance to climb the corporate ladder very quickly. You can become a C level executive in 4 years. Different project in every 4 months.
Cons
Spending budget often gets cut if it is trending higher than expected. No business class tickets for any distance. (it was used to allowed if you fly across certain regions, now you need to take coach class even to fly from NY to Melbourne-Australia) Office locations are mostly away from city centers. Salaries are based on your home location (read passport). Which means, if you're not coming from a country like US/EU etc your salary will be a lot lower than your peers. There is a lot of conflict of interest in the promotion cycles and a lot of politics. Senior Managers can create success story for the group that they support.