Pros
Great work/life balance. Managers very flexible about working remotely, time off, etc. Smart, friendly group of people to work with. Very process-oriented organization. Lots of opportunities to build transferable skills. Organization very committed to building a great product. Company invests considerably in employee development (training, certifications, etc.).
Cons
Some projects are initially presented as business critical, but then underfunded and in some cases under managed. Advancement opportunities are based as much on who you know as they are on your performance. Company has many of the "large company" challenges. Some team members not high performers, sometimes unclear direction, can be easy to get "lost" in the headcount, etc.