Pros
If you get the chance to work here and get into a good bar its really good money. High volume, premium prices, good tips, good co-workers. Full-timers receive benefits like Health Care, Vision, Dental, and 401k contributions. Pretty good, never paid more than $100 for a visit anywhere, whether it be the doctor's or the dentist. Good supervisors. If you don't like having a life outside of your job and all you want to do is make money, grind, and plan on staying at the job long-term (& I mean really long-term) it does pay off after a few years of being there. Some bartenders have been there for 20+years because it's very livable, good, stable money with benefits, (1st pick at schedules, time off, etc) at the top.
Cons
It's seniority based and you start at the bottom. So that means your chances of making better money than at any other regular restaurant will take 2-3 years to get to. Unless about 3-4 people happen to quit right before you start and you get lucky to be higher up on the seniority list. Not all bars are the same. Some make more money than others. The bar that makes the least amount of money is where you'll probably start. Mid-Management (not supervisors) is not good about giving time off. Only those who have had seniority for about 10+years (those at the top) are the ones who ever actually get their requests approved.. Anyone who is new has to either get their shift covered or call out. It's rare to get time off approved, even though you do accrue PTO, as a new hire. They have a huge call out problem. So if you're at the bottom of the seniority list, they'll force you to stay and close or cover someone else's shifts. Which can be good and bad. If you were scheduled to be out early and then you're forced to close, you can be out as late as midnight when you could have come in at 6am that day. So could be like 16hr shifts. Upside to this is that you could get moved to a bar that makes great money and then its worth your time. It really just depends and is a toss up each day.