Pros
Everything depends on which sector you are working for. Restaurant Associates, Wolfgang Puck catering, Flik, Levy, Morrison, Eurest, etc. With RA, Puck and Flik you can be at the top of your field and working some of the most glamorous events in the nation. There is tremendous opportunity for advancement, more if you are willing to relocate. Good money in the "nice" sectors. Hard work but worth it.
Cons
File work/life balance in the mythology section. Really sub par managers tend to thrive in the core 4 sectors. Way too much redundant administrative HR type work to do. Needs desperately to be pared down. Training is company specific and does not allow for transferable growth. Benefits to managers are currently being canabalized to save $. Nepotism is alive and well and living in Compass group, shockingly open practice of it.