Pros
This could be an option for getting into editing if you have no experience and are willing to work for peanuts while you learn. If you just want to make money, you'd be better off working an hourly job for minimum wage.
Cons
There's a lot to go over here, so I'll break this into two main sections: work and scheduling. *Work:* Writer quality is generally middling to poor. Occasionally you'll get a strong writer whose work doesn't require much editing, but it's much more likely that you'll get a bad writer. There is also a good number of non-fluent writers on the platform. While there's nothing wrong with this when wages are increased to compensate for the extra work required, the fact is that you will need to edit their work heavily for flow/fluency and you will not be paid extra for your trouble. Although Compose.ly editors get paid a wage that would typically cover proofing/light editing ($20/1000 words), you will be expected to make substantive edits when writers are bad (this is a frequent occurrence). Factor in the potential for multiple revisions and you could wind up making as little as $5-10 per hour on some projects. *Scheduling:* Another big issue is the scarcity of work. While this is getting slightly better as editors leave the platform for better opportunities, the fact of the matter is that projects are often posted at 5 am EST and claimed a few seconds later by another hungry editor. You'll be notified of project availability via email, so you'll have to be ready to log in and claim the second notifications come in. Turnaround times are another major issue. Projects are typically due at midnight on the day they're claimed. Because project availability is so unpredictable, you have to be ready to drop everything at a moment's notice to get projects turned in the same day you claim them. You also have no way of seeing the author's name or any text preview before claiming a project, so you're rolling the dice on quality/workload every time you claim. *Overall* While I know that 1/5 stars might sound harsh, I can honestly say that this is the worst editing job I have ever worked in terms of pay, quality of life, transparency, and potential for advancement. I urge you to look elsewhere if you have any other options. ***I was not a salaried employee and am only commenting on my experience working for Compose.ly as a freelancer.***