Pros
If you work in a strong group with good people, things will be good; but because people must change roles every 1-2 years, they won't stay consistent. You do learn alot, gain good experience, and get compensated well for your efforts.
Kontras
You will be required to change roles or move every several years to advance. You will be rated against a scale with your peers, where the bottom quartile (whether deserving to be there or not) will be filtered out the organization. For this reason, there is a strong competitive attitude with little incentive for people to actually help one another. You will not receive training or guidance on your job, and will be at the mercy of you manager to defend you during a ratings session. You will deal with people who are good, but also ones that are manipulative and self-serving. You will rarely feel good about yourself or your work at the end of the day.