Pros
Easy hiring process. Good place for starting devs to get a foot in the door. Fun people, really crazy parties, lots of opportunities to network with local businesses. Good community presence. As a developer, appreciated that salesmen/managers provided a buffer zone between us and unhappy clients. Attractive company cars (for onsite support staff). Shiny suits and ties. Cheerleaders hired for special events.
Cons
Loud, aggressive, vulgar, sometimes bullying environment. Unhappy clients. Highly variable product quality. Low job security. Frequent hires and layoffs. Noncompetitive pay. Little advancement opportunity. Culture not conducive to software development work. Rigid dress code and work hours. Corporate politics heavy with unspoken "be-a-team-player" rules.