Pros
Been at WG Sydney for over 6 years now, starting out originally as a mid-level engineer. I've been lucky and spent most of my time here working on engaging projects, and very interesting tasks, but of course still spent a little but of time (maybe a year total) on some more drudgy tasks. Management want to make sure you are still engaged with work, and will usually do what they can to make sure the team you're on gets good work for you. Working long hours is not something my team does, and we actively discourage it. Opportunity to be sent to developer conferences, do training to switch career path, or just bolster your skillsets.
Cons
Most of the work we do is still support work for other teams, and this is usually with various teams around the world. Every new team you work with is a new cultural barrier to cross, and new process to learn. Some teams can be obstructive, and when you hit one of those teams work becomes painful. Roadmap for our studio feels like it's always coming to an end, and projects we work on are very last minute.