Pros
If you're good at gaming the system there's plenty of opportunity to do little and rise through the ranks. The Soho location is newly renovated and a great neighborhood to work in. They make books, not bombs.
Cons
If you're not good at gaming the system you're going to get screwed. Management is proud to manage through fear. The Chelsea office location is awful. Most developers are offshore contractors who have no stake in the success of the organization which is reflected in the quality of the work. The organizational culture is broken. There's little appetite to actually do things right. Management wants to get the favorite project of the month done; priorities, process, and methodology be damned. This place has been so broken for so long that the only people who have remained are people who prefer that it stay broken and will do everything they can to impede progress. The only employees the company invests in are the college associates (new grad hires) everyone else is second-class, yet the associates all hate it anyway and leave in droves. No matter how optimistic or idealistic you are when you start Scholastic will drain all of your energy.