Pros
You learn a lot and very quickly. In one year with KPMG, you learn what it takes maybe 1.5 times the time in another work environment. You generally work with young energetic people, and you get to interact with senior level management at client sites. You also get to move around a lot (i.e. you get to travel and work out of different locations). Ther eis a good amount of time off (6 weeks); the starting salary at KPMG (consistent with the Big 4) is higher than in other places. You also get to work independently. After the work is done, also KPMG parties hard, which is fun (work hard, play harder atmoshopher).
Cons
The hours can be terrible, but it completely depends on the client you get placed on. Some peoplework a lot more than others, and there is very little recognition between those people. Sure, there are ratings (exceptional performer, vs standard performer), but aside from that, there is a very simal compensation differentiation. Also, you are managed by people who are one year your senior. You could get lucky to work with people who are good, but there is an equal change to work with your seniors who are terrible managers. And, these people, one year your senior, have the power to make your life at KPMG good or terrible. All of your extra effort or lack thereof is seen by your senior but rarely by the executives by the company, so it doesn't pay to put so much effort. The culture assumes that long hours are normal. Someone makes a budget of how many hours something should take, and you have to explain why you went above/below that budget which you didn't really agree with to begin with. THere is pressure to understate hours. Seniors also send you to discuss/argue points with client executives that you don't understand. And you just end up getting yelled at and hated by the client.
