Pros
(from an associate consultant perspective) -great professional development opportunities, you will definitely be pushed and challenged -steep learning curve, you won't have time to get too bored of any topic or industry -exposure to a variety of industries and business problems -plenty of opportunities to develop close relationships with colleagues
Cons
(still from an associate consultant perspective) -has gotten more hierarchical over the past few years -culture has disintegrated, not a place to go if you're looking for the "fratty" culture -lack of control over what cases you get staffed to -lots of variability around which consultants, managers, and partners you get staffed with -- some you may end up getting along with great, and others may be awful to work with