Pros
-Travel (if you don't mind dropping everything at a moments notice). You can get tons of hotel points and frequent flier miles (if you don't mind fronting the cost for them). -Coworkers have a common sense of being screwed so they find comfort in shared misery.
Cons
-Impossible to get timely paid for work without jumping through hoops. -They lure you in with descent pay, then WHAM, force a salary significantly lower than industry standard. Anyone accepting a full time position takes a significant financial hit (I would have lost over 60% of my income). -Management protects and promotes poor performers. You end up cleaning up their mess most of the time. -Administrative staff oblivious and unhelpful. -Most people are completely unqualified for their roles. -Non-compete clause basically prohibits working in the industry for a year (within 50 miles of any office). -Top-heavy organization. -Frequent droughts of work.