Pros
Lots of free time. Lunch time in excess of two hours. Flexible timings in coming to work and leaving. Opportunity to work abroad (in the states or Europe ) and getting paid a fair salary in those countries.
Cons
Very poor salary. Total incompetence at the managerial level. You can come to work as and when you like it and no action can ever be taken against you. Trifles are severely punished and can even be career breaking whereas serious faults are passed off with a shrug and a don't care attitude. It is also very surprising how higher management is finally never responsible of anything. Basically the bottom line is not with them. Serious work is not rewarded and only the number of years spent in the company determines the salary and not performance as is put forward by the company. Excessive bureaucracy leads to the reimbursements of business expenses being made late -very late (years after having been incurred!!!).