Pros
First and foremost, PwC's reputation as being the best in the audit industry is true - I haven't seen a company with such strict attention to details and training the reinforces it over and over again. The peers are fantastic to work with - almost everybody is a team player, knowledgable, and knows what they are doing, so you can rely on them to do good work. Training is about as good as there is in any industry, with strong online coursework, annual required training at different locations, Disney World for the interns, various travel opportunities (including international), and many mentors that you have no choice but to be a sponge. Reviews and feedback is given whenever you want it, and goes towards possible year end bonuses and career advancement, which is usually given full consideration. I loved my time at PwC for the most part.
Cons
With such a reputation in the audit industry, it goes with the territory that you feel sort of pressured to make sure you uphold that reputation by staying until 9PM and do a good job while you're at it. Busy season can take a toll on your body, which is a reason many people decides to grab a CPA and then run right out the door. The traveling varies from person to person, but some people seem to always travel and others never do. The life of an intern is so much better than associate - interns get OT and the same salary and get to go to Disney World - but all that goes away once you are full time - it's sort of like they be playing mind tricks on you. Benefits aren't great, with weak medical and dental, but salary is solid and in line with industry, but I could have gone into finance and received much more, but the "Big 4 CPA" title thing got to me.