Pros
I have been working as a contract employee for about a year. If I lived closer, I would definitely hang up my consultant hat and apply for a full-time position.
The work is both rewarding and challenging. Ultimately in the end, after all the compromises we must make in this profession of ours, the design still comes first.
I find the design sensibility and contemporary approach to be refreshing in a very traditionally dominated New England market.
Unlike many of the egocentric employers in the architectural profession, the Big Boss is always open to suggestions and is rarely immediately dismissive of alternate ideas or approaches. I find that he is fair and reasonable, usually explaining his rationale on most decisions. Don't get me wrong... he will get what he wants and demands excellence.
He likes to do what is best for the client and the project and doesn't care where the answer comes from as long as it is the ideal solution to the design problem.
Cons
If you don't bring your A game, stay in the minors, this place is for professionals only.
You can definitely grow and learn, but you should at least walk in the door with some basic good skills. "You know like nunchuck skills, bow hunting skills, computer hacking skills. " - Napolean Dynamite