Pros
Flexibility on work life balance
Interesting projects and topics of research and advisory
Interesting client pool (from large multinational companies to medium firms)
Opportunity to learn a lot from an entry career level position to mid-level
Based on which team you are in, the approach to work is sometime similar to a start-up in the sense that you will develop proposals, pitch it, manage and work on a specific project and take on many roles to ensure the successful delivery. While in a larger consulting firm the team will be larger and role much more segregated by level.
If you are a top performer, and able to demonstrate your success quantitatively to the leadership, you will be promoted relatively quickly.
Cons
Unclarity in the company long term plan and direction
High team turnover
Salary and benefit could be better. They are below industry standards, but it's a trade-off for better work life balance