Pros
Opportunity to work with top leaders in the company way before you would normally be able to by tenure and experience.... Preferential treatment in job postings... High involvement of peers and mentors dedicated to your development.... Access to Senior Executive Leadership that is not afforded to the rest of employees... Ability to lead initiatives and programs that would normally take years to be able to lead.... My personal experience was leading a program my first year in the company that was easily 5 years above my experience. I got the opportunity to show that I could handle it and perform at a high level --- and because of the program, I was able to keep expanding the program with limited red tape. The experiences I got over 3 years were able to put me into a position that takes 15 years to get in the company. I'm one of the youngest in my current position, and it would not have happened without this program.
Cons
Not everyone in the program saw the same progression in their career and some of it does involve luck in the rotations that you're able to get. However, I do truly believe that some are able to make the best out of their situation and show they're capable of more - and it's going to come down to your initiative, attitude, and ability to rapidly grow as a leader.