Pros
Colleagues can be helpful and supportive.
Cons
The salaries do not meet market standards and even after multiple appraisals one might only see a slight increase in their base pay. The level of loyalty expected from the employees is almost unreal as the nature of any business is a two way street. Employees end up in projects as third party consultants as there is no sales team and hence they have to piggy back on another consultation firm's projects, which basically means the employee is at the stake of that other firm and the management lacks a spine to deal with any problems/issues because of the fear of their revenue getting compromised. Client relationships are treated sanctimoniously. Some employees are given preferable treatment, no matter how bad their skills are. Its almost the lowest level of professionalism when people lose their promotions on the basis of meaningless gossips.