Pros
Deloitte is an excellent place to start your career fresh from college. There is a pride in working here and the name recognition is great for getting future jobs. I started with a group of people similar in age, which made socializing after work easy. When we had time, that is. As a first year, I learned everything on the job and was not afraid to ask questions. While some of my peers were assigned to one main client, I was at several different, smaller ones and felt that I learned more this way. The feedback system allowed for my seniors to leave detailed comments on different aspects of my performance, which was helpful.
Cons
The biggest downside, as I'm sure it is with any of the Big 4, is work life balance. In audit, you are never really sure what time you'll get off and trying to plan a vacation is often a big headache with the uncertainties of scheduling. In my first year, I was not allowed to take time off during the holiday break, and spent the day after Christmas staring outside the office windows and surfing the web as there was nothing else to do. Lame. Turnover rate is high, and news of recent layoffs are grim. Even those who stick it out don't always get promoted, as there seems to be a lot of politics in this office.