Pros
For me the best reason was the flexibility allowed at my practice when taking time-off's and such. This after a very demanding time in the project where we had to spend very long hours.
Kontras
Many: - Your growth and salary raise are dependant upon ONLY two things 1) are you in good books of your MD and 2) your ability to fight tirelessly for the piece(small) of pie every performance period. Most of the money will go to MD and senior managers and if they are considerate enough and willing, will pass peanuts to people below. - Poor leadership - Projects are run with bare minimum resources for higher profitability. No fallback plan on a critical resource. The team will be burdened if some people leave in the middle of the project. Hectic schedules. - Their internal recognition Awards are a joke. There were people who got those awards for really doing a great job, but there are times when you'll be awed by their ability in awarding really worthless people for what so ever reasons - In a typical project only 50% of the people really do the work. Rest just get by and there seems no accountability. the 50% who work will be required to compensate for the rest. - The quality of people has deteriorated over a period of time for above reasons