Pros
You will gain great leadership skills and will learn a lot. Corporate makes an active effort to provide managers and associates with on-going training. If this is your first management job right out of college, and you make it through the first 6 months - a year without throwing in the towel, you will learn how to truly manage a large team and speak to results. Every job after this one will seem like a piece of cake in comparison.
Cons
Company expects you to work magic with extremely limited resources and unrealistic timeframes. You will be told that you should spend the majority of your time leading, but will only be given 20 hours worth of funding for a project that requires 60 hours of labor. Many managers end up working crazy amounts of hours to complete projects themselves in an attempt to meet corporate's routinely unrealistic expectations. Also, it is difficult to foster employee engagement when the company keeps changing work processes in a effort to find the most cost efficient. The result: associates end up ignoring new operational procedures in favor of what has worked for them in the past since the "policy will change in a couple of months anyway".