Pros
Generally, benefits are pretty good. Plenty of vacation days, profit sharing integrated with 401k. Booz Allen is a great place for young people to start because of the strong corporate culture (what to do and what not to do), 360-review process, and highly defined performance criteria. Also has reachback capabilities far beyond any other company I've worked for, with technical focus groups, communities of practice, and a new (internal) social networking web site. Generally, your management usually looks out for you and helps you work on your career progression.
Cons
Responsibilities are organized different than other companies, which means you may not have as much purview as you did with your last company (even though you may be qualified). E.g. you may have led teams of 40 people before, but if Booz brings you in as an Associate or Lead Associate, you likely will not have purview over that many personnel... and you will likely not have as much purview over personnel management activities until you are a Sr. Associate or Principal. Career progression is highly dependent on being in the right place and right time. It's not the typical model of do well and you'll move up. You have to do well, be highly networked, and "own" a market.... which can be very difficult. People can end up being at the Associate level for 20 years. There are a lot of demands on your time. After working your 8 hour shift, you may be required to work on markeitng, proposals, white papers, focus group or community presentations, etc. You are required to do A LOT to get by within this company. They talk about work/life balance, but admit that the "balance" is different for everyone... and naturally has to be balanced towards "work" to get ahead in the company. The company was purchased by Carlyle Group and there are pressures on profitability that are causing mental anguish on the employees. The culture is changing.