Pros
Casual dress every day and you will not find better insurance benefits for yourself and all dependents.
Cons
No raises so try to negotiate as much salary as possible up front without the expectation it will increase more in the next couple years. Do not count on a bonus either unless you are in the front office. During my time at Mercuria I saw many people laid off without a clear indication as to why, and some of those were with the company a year or less. Also, it is almost unheard of for people to move around departments so expect to spend 3 or so years in the role you initially accept. As for work-life balance, this really depends on which department you are in, but don't count on it. Many people work weekends and late nights. Even after working 80+ hour work weeks, and being a high contributor to your department, do not expect to be compensated for that performance in the form of a bonus.