Pros
Prestigious position and work environment, meaningful job, you will literally be changing the world, you will literally influence people lives, opportunities for development, great opportunities after leaving the Bank, excellent pay, excellent benefits, opportunity to travel the world, meet leaders and top officials, live in DC, and flexible work options.
Cons
Long lasting career within the Bank is unlikely; Your future is always uncertain as most contracts are term contracts making it impossible to feel settled in town or establish a family; Your livelihood is in the hand of your colleagues whom feedback does not necessarily depend on your professional outputs; short term consultant contracts are technically a form of modern day slavery and require full review ASAP; Team members scattered around the globe and respect for personal time outside work hours is nonexistent (personally I have been told to my face by a task team leader that if I prioritize my family then this job is not for me, this ideology is wide spread across the Bank and perhaps explains why large number of staff either come from broken homes or from poverty/war, though it is worth noting that you're highly encouraged to marry from within the institution); Sexual harassment is widespread (refer to Staff Association recent survey) and this is not surprising when taking into consideration the power some staff are given when it comes to contract renewal and the position of vulnerability you're at once you have tasted the benefits of this job; expect it to be difficult to have a social life outside work given the frequent travels and work hours;