Pros
There's a lot of independence for Store Managers (provided they are delivering positive results). Assuming you're fully staffed, you work 45 hours per week, not the 50 or 60 many other chains expect. Recently went to hourly pay for Store Managers, meaning that when you do put in extra time, you'll get it at an overtime rate. At least in my area, salary is competitive, but bonuses are difficult to earn and rare.
Cons
Don't expect a lot of training or support. I've held three different positions in the FE and have never once been given formal training on anything beyond the HIPPA & Anti-Money Laundering regulations. There's no manual - they pretty much expect employees to just pass it along to the next round which leads to very inconsistent standards - from to store to store and district to district. Very low pay for anyone other than Store Manager, super-tight payroll that often leaves Managers and Shift Leaders alone in the store as a plan - not just because someone calls off. Most lower volume stores no longer have an Assistant Manager so you're left with Shift Leads as your only support staff - these folks only get maybe a $1 more an hour than your cashiers, so it's tough if not impossible to get quality candidates. And since there's not training structure, with your limited time, you'll be training them all the various programs and systems that we use from scratch. Most other retailers I've worked for have a well developed plan to get new associates ready and in place rapidly - especially those who will be taking on key-holder type positions so that when low pay leads to turn-over or inexperienced candidates, you're not churning your wheels trying to ready new ones on a regular basis.