Pros
Basically no travelling required. Some opportunities for remote work depending on your role (all PMs work remote as far as I'm aware).
Cons
Literally zero work schedule flexibility. Regularly work long hours/overtime without pay because you are working as exempt salary. Projects pile up into an INSANE amount if you run into any bumpy projects, and then they just snowball on you from that point on (you will always be behind unless you decide to just completely throw away all free time and family time). The PM team has a crazy amount of turnover due to the large work-loads, no bonuses, no raises (3% is not a raise - that doesn't even cover inflation), and no overtime pay. For example, we had a year where management was very excited about how they were able to hire a bunch of new PMs, and practically all of them were gone within the year.