Pros
If you're looking for learning and development opportunities, this is where you should be. There are plenty of projects around that could help you show off your capabilities and expose you to regional/global work experience. And personally, I think recognition is also easy to come by if you're one of the better performers (at least in my department).
Cons
Employee benefits in general are slightly below what other top MNCs are giving (e.g. no. of days of AL, lack of healthcare coverage for dependants, stock options/RSUs for certain levels, etc) For certain job functions, an employee tends to have to cover the workload of more than 1 headcount and the arrival of a new headcount to support the extra workload during high volume tends to come too late (by then, employees would have burnt out due to working late too often)