Pros
A paycheck (and a mediocre one at that), most of the people are pleasant, work experience to put down on your resume while you search for another one.
Cons
Long hrs, there can be long blackouts for vacation time, annual raises are insulting (if you get one at all), depending on the project you might be overloaded with work, no career movement, upper management is clueless, the company did poorly in getting new projects for certain areas so even if you just worked your butt off on your last project you might still be laid off. Bench policy is awful (120 hrs) and severance package is just as bad (2 weeks per every year up to 4 years - so max is 8 weeks of pay). HR is notorious for not announcing changes in their policies so you might find out the hard way that they just found a new way to not give you a severance package.