Pros
In some regards, projects are what you make them, and you have a great deal of leeway in how to best meet the needs of the engagement. Some projects enable us to get a great deal of learning opportunities for different industries and different company styles.
Cons
We always are late to the recruiting party and can't compete with other consulting/auditing firms. In that regard, the campus hires we get are second tier. I can't recall the last time we hired a good experienced hire. Management can't seem to figure out how to balance business development and project execution (execution usually is what suffers). Compensation is way behind consulting competitors (less travel used to be the balancing factor), but now we even can't compete with many industry jobs. On the work side of things, despite some half-hearted efforts to become more like the strategy firms, we never seem to be able to escape the image of being the SOX people. And we shoot ourselves in the foot frequently because we lack the skills, knowledge, and management to execute those kinds of projects in an effective way. Even non-audit jobs end up looking like audits.