Pros
Good work-life balance. Somewhat interesting projects if you're lucky enough to be chosen for that specific team. The other developers are mostly nice.
Cons
Low salary. You are expected to quit after a while. You will not get an annual review or a raise unless you ambush the CEO. If you try to schedule it properly, without ambushing, it will get moved back months and may never happen. I was informed from someone in headquarters that it took multiple months for someone over there to get their annual employee review. In 2 years, I haven't had one. Different project managers and leaders have different styles of management. It can be very jarring having to mentally switch between the different ways project managers try to "lead." Especially if you stay for more than a year and you are on 3-4 projects at once. In 2 years, half of the project managers I worked with were decent, the other half were not. Some of them need to have basic things explained to them over and over again. Many people I have spoken to understand just how bad things are, but everyone is either too scared to say anything to the CEO or they don't feel they will be listened to. Everything is compartmentalized, so that developers are as out of the loop as possible. Regardless of whatever they told you, truly interesting projects come a few times a year, and you will likely not be chosen to be on the team. Everything is timed, and every piece of code is reviewed. Because everyone is on multiple projects, you could wait days for your code to be reviewed by the reviewer because he is doing something else. That could result in you having nothing to time. Every new developer in my office has no clue who their direct boss is. When this satellite office opened, we speculated for months who our boss was, and I am still not certain if the person we think is our direct boss actually is. That should tell you how little communication actually takes place.