Pros
Honestly, I can't think of any pros but lately, work has been less for me so that's good, I guess? Management expects you to stay in the office for 9 hours every day so there's that.
Cons
This might vary from project to project, but management usually won’t allow you to switch technologies. You’ll get the lowest bands every year, even if you work all day, especially if someone in management doesn’t like you. If, by chance, you have a lighter workload one day, you still won’t be allowed to leave early. There’s an expectation to stay for 9 hours in the office. If you have a family issue and request WFH for a few days(god forbid if the duration is in months), it WILL NOT be granted; instead, they’ll ask you to apply for leaves. If you offer to go to the branch closest to your hometown for attendance, even this request will not be accommodated. Which is funny because just a few months ago, everything was fully remote in my project. Even if everyone in your team is working on-site, they’ll still ask you to sit daily for 9 hours in the office. To keep things vague, the base location of my project is City A. So, management will force everyone assigned to work in this city to report every day for 9 hours, while people assigned to a different city are still allowed to work from home with no penalties or bad bands. Management can take almost a year to change your teams. You will not get release from the project, even if you have no tasks. And no matter how much you work, you will still not get a decent salary or bonus.