Pros
Being at EF feels like something out of The Circle (Dave Eggers' book): the company strives to create this 'all-inclusive' culture, where you can work, socialize, and spend your free time with EF people ... and doing EF things. Unlike in the book, here this isn't necessarily a bad thing - the people are generally smart, the new office building and surrounding area are seriously beautiful, and the mission of EF is an easy one to get behind... but be prepared to get on the company bus - or get out. You will feel like the company works really hard to support its employees, offer advancement (though there aren't many opportunities - so this is largely lateral) and continuing education, and keep everyone positive. It is an exceptional place to work and going into 'the real world' office culture after EF will probably be a culture shock!
Cons
If you are someone who works for the sake of work, or who doesn't share the 'company spirit' (akin to team spirit, high school spirit, cheerleader spirit) - it will be hard to advance and you probably won't be happy there. There is a sort of 'college culture' of drinking and parties, which the lack of a dress code and campus-like offices contribute to, all of which combined may make you feel like you're still an undergrad. The blatant expense of the new building (as well as the tuition fees of the neighboring Hult Business School) stands in stark contrast to the salaries of most employees, and there is pretty high turnover in most departments. The structure of the company is like a bottleneck - very few people are at the top, and there are many entry-level type positions with few advancement opportunities.