Pros
High stakes work, great learning curve, builds guts and confidence as it forces you to take ownership of your modules and present regularly to senior CXOs in client side. The fact that you have to switch projects fast and also become an expert in the project over a short duration forces you to grasp concepts faster and also enables you to learn a lot of ways of working, industry creds and makes you a much stronger and calmer person to work
Cons
The biggest con is the work life balance. From Mondays to Fridays you almost have no time for yourself or for doing any outside thing work activities, most projects involve work of at least 10-12 hours a day and hence you are often left working for longer hours. You might also end-up not bonding with people at work that much as you switch projects often