Pros
First hand and internal information on new SAP products and best practices. Opportunities to work with many talented colleagues and sometimes developers who wrote the original code. Internal transfers between departments/groups. International opportunities. Great bonuses if you excceed your utilization target. Brand recognition. Very good health benefits.
Cons
Internal politics as in most other big companies. Knowledge sharing approach is very inefficient especially between departments. Personal experiences can vary greatly depending on your manager. I lost the best manager I ever had during the 2009 reorganization and I couldn't understand the rationale behind the decision. It is also very difficult to break into a new area of expertise. Demand for SAP Consultants is declining due to high billing rates. Internal competition between regions, departments, and lower cost subsidiaries.