Pros
Genuinely, the most intellectually challenging place I have ever worked. You will learn a LOT here as an engineer, and the opportunities to explore projects on your own are abundant. You work with some of the brightest minds in motorsports, and you are well-equipped to go anywhere in Motorsport and make a big impact. They do very much emphasize work-life balance, and management is generally very lax about here-and-there days.
Cons
Pay is grossly sub-standard, 15% under market value AT LEAST. Raises are non-negotiable, they try to make it look better at face-value with yearly bonuses, but everyone gets bonuses, and everyone gets raises....except PME employees. Vacation is a joke, you don't have time to turn around and sneeze before you're due back at work. NO room for upward mobility- you come in, and you stay in. If you want to move up, move out. Management is a boy's club, a fraternity almost. The good o'l boys make all the decisions, take much of the credit, and have a hard time handing over responsibilities, as if they were their infant children. Depending on the position, you will work 45-80 hours a week at some times, but don''t expect to work 40. Even though that's what you get paid for.