Pros
Career development - you work a ton of hours but learn at such a rapid rate. It is an opportunity in your first year out of college to meet with and discuss accounting treatment with executives from Fortune 500 companies. Your market value increases exponentially year after year and when you decide to leave or even do a market check, you are a highly valued commodity due to this experience.
Cons
All work and no life. It is an extremely political environment - especially the compensation reviews. A lot of very talented people are turned off to the annual review process whereby managers and partners get together and decide your raise sometimes completely disregarding your feedback from assignments. If you go out and drink with the right people, kiss the right butts, and work for a manager that is "in" with the partners you can easily get a better rating then someone who works much harder with a manager that is not as popular.
