Pros
Since Lake 5 is a small/private company, this might be few of the sources you could use to make your career decision. I'll try to make this as unbiased as possible...If you're willing to work very hard, then you can use this as a plank to jump start your career in the media industry. Lake 5 also provides the opportunity to obtain green cards/permanent residency through work, which is one of the main reasons that most people work here.
Cons
Lack of employee engagement and internal control (the latter is understandable since it's a small company). Strict procedure for work and micro-management, which could be a pro or con based on your perspective. Awful medical benefits (god forbid you get sick because you're going to cover the majority of your medical costs). Majority of people working at Lake 5 are non US natives, and they communicate in their mother tongue, so if you're a US native, I highly doubt you'd enjoy working here (if you're a world citizen, whatever that means, then this could be a place for you).
