Pros
There is good flexibility with work schedule, and work from home is welcomed as long as productivity is preserved. The company does many activities to encourage team building such as ski trips, volunteering work and happy hours. Managers maintain a balance between being relaxed and enforcing discipline and standards. Colleagues are very professional and knowledgeable, always keen to help or point to a source of information. A small company environment leads to everyone's contribution almost immediately visible. From the managing directors' new product idea, to product manager's tangible product design and finally to the engineering team's implementation, everyone can one's fruit of labour.
Cons
A small of company means there's less resources for training so one must be able to adopt quickly and constantly learn things on one's own to stay relevant in a dynamic environment.