Pros
First of all, it's undeniable that no better experience for learning medical decision making exists, which is why I would still recommend this to a friend. Definitely the better alternative to shadowing. All former employees boast about the overall advantage over other students who just did research or volunteering in comparison to your actual presence on charts. If you're a manager and you're fully staffed, it's easy to get time off.
Cons
Expectations for compliance with last-minute schedule changes while disregarding your obligations like school, other job, etc, especially noticeable when short-staffed. Getting a raise is practically impossible since there is such a high turnover rate. It's hard to appreciate the learning experience when you can't even support yourself. The only reward for outstanding performance is knowing your knowledge expanded. Promotions double your workload for an additional dollar.