Pros
Training program for out-of-college new hires is very thorough. Knowledge learned in the initial year is very useful. It is substantial in both quantity and quality.
Cons
Company is very fast paced, so there's no time to think through the design. It is more important at the company to get the results out rather than have a solid design - ie. create a hack, a short-term band-aid solution that will fix the issue at hand and get the product out the door, even if the hack will create huge amount of problems down the road. Also junior programmer's bonus is not decided based on the person's performance, but rather divided from the left overs in the bonus pool after the management and the senior developers gets their share. (Each department get a dedicated bonus pool)