Pros
You get a lot of autonomy in dealing with the client. There is very little second guessing of how a deliverable should be crafted for the client. The cash compensation was good. Whenever your saw the senior management face to face, they were personable and friendly.
Cons
There are times when you want hands-on management - like for an annual performance review and salary review. I was there 5 years and it never happened to me. I have no idea if they followed a formal process for promotions; if they did, it was not apparent to the rank and file. The culture seemed to be "out of sight, out of mind"; ironically, the more one was out of the office making money for the company, the less valuable one was perceived because you were not seen.