Pros
You used to get good exposure to clients (which also is a con explained further) The management is bad so the colleagues amongst each other are usually good.
Cons
To get the big clients onboard they make extra promises with deliverables eg. we will cover all your late night events also incase of nightclubs and then the executives are expected to go late nights to cover the same. No OT is given for this neither is a comp off given. You are expected to resume work the next day. Almost every sunday you will get work and you are expected to do the same, which means no personal time. The boss is hardly there in office. He will come to office at 4-5PM and then he will do all meetings keeping employees late evenings for the same without even considering that people have personal lives and some stay far. And the worst of all, the boss is good to you until you are working for him. The moment you put down your papers his only intension is to screw up the employees life. Giving extra work, if you don't complete then he uses this as an excuse to cut your salary without proper justification. (For cutting salaries we have seen so many employees come and fight for the same issue)