Pros
Great opportunities early on to take on quite senior roles on projects, although this does require some luck and networking. Very clear structure so you can mostly relax and take it as it comes as a grad without fussing over climbing the greasy pole. Work life balance I find is really good for the industry (though you do have to show some backbone and it does depend on your project team).
Cons
The rigid structure is demotivating in terms of reward, as there’s next to no benefit during the graduate scheme for going the extra mile (first year grads don’t even get bonuses, and grad salaries are fixed for everyone on each year of the scheme). Salaries feel low, especially considering they lowered(?!) the grad consultant starting salary during record inflation. Exams are stressful, but my managers so far have been very accommodating to allow me time to study.