Pros
The pros are a steady, not very challenging work schedule with a clear office policy manual. While there are a few spikes in work hours around project deadlines, the day to day is pretty predictable.
Cons
One is very likely to get put into a niche here. There are the technical people, the presentation people, the construction document people, etc. It is very difficult to get a well rounded experience. While management pays lip service to helping develop young architects, the reality is that it is not really in their best interest, and they rarely act outside their interest. A very conservative management style permeates every decision, leading to increasingly fewer new ideas in the projects themselves and a bottleneck of information that creates an inefficient workflow at the lower levels. In the end, this job will kill you with boredom, not overly demanding hours.