Pros
Very small size, easy to make impact, good hikes (especially if you are good) given the size of the company. May turn out small products soon. Leads and managers are just for support, you can influence the team even if you are a fresher. Generally friendly people, not too particular about dress code and timings. If you make yourself indispensable, you *might* end up in the current most interesting project. Sometimes you even end up meeting really smart people. Both with in the company and via the customer's. If you're really interested in learning the library is well stocked and can be augmented with a single email to the CEO. There are rules, but most of the time they are just guidelines. The company's generally faithful to employees, was one of the few companies to *not* lay off people during the recession. You can grow very fast if you're good; I've seen people go from 10k-odd per month to 80k-odd per month in 3-4 years. Good QA engineers get to travel a lot. :-)
Cons
The novelty dies very fast, a few months after into my first project in my case, though sometimes something new came up. Very few learning opportunities. If you're marginally smart and organized, you'll probably feel lonely. Very few people speak or write legible English. They generally take up whatever pays, so don't expect to work only on challenging projects. You're usually expected to be a code monkey. Intelligence and initiative is optional, but respected. Very few holidays, just 11. Your work-life balance, career growth etc. entirely depends on the customer you serve, so your career path is kind of non-deterministic. Expect to work (or pretend to) on multiple projects and lie to customers about that (this I hear is a pandemic that affects all service companies in India, btw). Mentors are hard to find, you better be good at self learning. Pays very low (insultingly low in a few cases IMO) to freshers.