Pros
Interesting work. Well-regarded institution. Projects depend on successful proposals, so there can be flexibility in the topics and type of work a team does. Young staff (coordinators and some managers) are well-prepared and friendly, there's a good atmosphere.
Cons
Your experience depends a lot on your manager. Many senior staff members have lost interest in work and projects and they become an additional financial burden for the team, they provide little value and are grossly overpayed. Very high admin fees, adding overhead and other charges, it amounts to more than 42%, making many projects unviable. Toxic culture, favoritism. HR is not interested in employees, very high turnover rate. Little possibility of promotions. People who work well are overexploited, while bad workers get no repercussions. Very high organization cost but it's not reflected on key employees salaries.