Pros
Freedom to make a position what you want it to be. Promote from within on occasion. Good company reputation. Somewhat good work/life balance if you have the right manager.
Cons
Pay is terrible. No training or support from management. No one cares if people are doing their jobs until revenue slips. Multiple promises unfulfilled. Terrible communication from upper management to those below. Lots of animosity between admin positions and sales positions. New hires are overworked and underpaid at nearly all levels. People straight out of college are hired over those with experience since they can be paid less, and will often replace those making more simply for salary savings. VP levels have their favorite underlings and will ignore them not doing their job and meanwhile they constantly treat those that don't suck up as if they are disposable. Office politics way out of control. Unexplained firings are a morale killer. One day someone doing good work is there, the next they are out with no explanation or even notice. Leads to people believing their jobs could be gone with a moment's notice and for no apparent reason.