Pros
You get to work with intelligent people (in most cases) from around the world. You have the opportunity to work and live abroad. There is a clear focus on constant learning and development. And, depending on the group you are in, your coworkers do take a genuine interest in you as a person (and as a person who has a life outside of work).
Cons
Due to the nature of the work, the hours are sometimes long (particularly when you have to coordinate schedules among a global team). Some of the people are very narrow minded and don't have an interest in or knowledge of the world outside of their narrow area of focus. There are still remnants (disappearing fast thankfully) of the old boys network where people are given access to work on choice projects and are promoted based on their ability to bullsh*t and to talk sports with the boys.