Pros
Retirement benefits even after recent cuts remains very strong. If you are able to work at a client site, the downward trends back at HQ are easy to ignore. Work life balance is generally still good, however, the trend is for management to request more "on your own time" (aka non-billable) work to offset their own high overhead expenses. Work life balance varies widely by manager.
Cons
The current CEO and Senior Management are attempting to follow a for profit structure, at a not-for-profit company. The question of what LMI wants to be has long been up in the air, it appears we are headed for a Booz style structure, but no manager will admit to that. There is not much opportunity for promotion within the company due to a small/flat management structure with a large projectized consulting staff. Senior Management only pays lip service to staff at all levels, and does not utilize the internal talent at LMI to make decisions (CEO often hires outside groups to study COAs). Rumors of huge management bonuses while the rest of the staff has seen wage stagnation have harmed morale and created an environment of mistrust. The new workspace office environment has further harmed morale. The staff is reasonable and would have accepted change to an open concept plan, however, it is difficult to understand how after so much money was spent (again, while the staff absorbs wage stagnation) the new building serves our needs so poorly.