Pros
The office is located within walking distance of the SEPTA Manayunk/Norristown line. If your team performs well, they (with +1s) could be sent on a 4 day vacation at an all-inclusive resort in Mexico. Their annual holiday party is a fun, lavish affair. If you hit the gym over lunch, you can take an hour and 15 minutes rather than the normally allotted one hour.
Kontras
There are very restrictive employee policies and lack of employee trust due to an organizational "fool me once" mentality. While wearing headphones, someone responsible for taking customer calls missed them. Now headphone use is not permitted for anyone. Some people took long lunches regularly. Now everyone must sign out and back into the office when taking an external lunch. (Everyone's lunch duration is scrutinized.) Someone abused the work from home policy. Now no one can work from home. As a result, if inclement weather (or anything else) prevents you from being in the office, you must use PTO. The office hours are a strict 8 am to 5 pm. You will be reprimanded for being 5 minutes late despite how much time you put in. When there are business failures, upper management blames others rather than learning, improving, and progressing. This results in a stressful environment with considerable time taken to CYA, causing all efforts to be competitive and self-preserving rather than collaborative. Firings occur regularly. The reasons for them are not transparent. For example, I had 3 managers in a 3 year span due to firings. My team was pulled into a room the day of each firing to be told they occurred, but not why.