Pros
Pros change depending on the region / country you work in. Despite the title there are many pros about the P2 Way. Some offices in different countries are relaxed and have nice people. Many build a cooperative culture with social events.
Cons
The "No Compete" clause will lock you out of working in a similar industry for a period of time when you eventually leave P2. It is encouraged to review that clause before you sign, especially if you work in the US. Many people complain that they do not get paid properly or on time. Or, the right amount. There is a general lack of leadership. In the last 3 years there have been 4 CEO changes . (5 if you include a temporary board member while they figured out how to manage the portfolio). Unfortunately, as a result P2 are employing, and overpaying new executives who have no experience in the industry. Remember, P2 is owned by an equity company so it is only 1 portfolio of many. Attrition - As a result of the above people are leaving P2 because they are either tired of the lack of leadership, the way they are treated, or they just don't believe that an equity company can constantly shrink P2 resources and still flip it for a profit.