Pros
The benefits are in par with other engineering firms; training and mentoring is left up to the individual, that is find out what training would benefit you the most and find a mentor that can keep you billable. Pay is on par for entry level and higher than most as you take on more responsibility.
Cons
Just like life you're out there to figure it out for yourself. The direct supervisors have to manage their own technical responsibilities/projects while parsing out tasks to staff that may or may not have the capability to actually complete. Staff that complete tasks get more work, whereas others that require more mentoring or motivation usually are not very successful. The company has a problem with getting rid of dead wood, that is people that are not billable but continue to game the system by saying that they're looking for work. As it turns out no one wants to use these folks b/c they charge projects without providing acceptable work (i.e., deliverables). In the end your budget is spent, you end up finishing the project on your own time to satisfy your clients, and then senior management continues to push you to use dead wood for your project.