Pros
It's rewarding to leave each day knowing that I had the privilege of making a difference in lives of those I invested in. Inpatient experience is invaluable: From the intake/assessment process, to treatment plan development, insurance/billing requirements, working closely with nursing/psychiatry, judicial/correction system/DHS, crisis intervention, group/family therapy, discharge planning. In short, I'd place a year of inpatient work as equivalent to several years in another setting for the types of cases and challenges you will run into on any given week. I've also had a lot of fun working with folks that challenge me to grow as a clinician and encourage me while we serve this community.
Cons
While it is great experience, the workload is just too much to make a long term career out of it---it's not sustainable as far as I can tell, in this role. There are some great people working at Valley in every department. However, we have been short handed since I began working there and have had difficulty keeping therapists around. Currently, there is a generous sign on bonus for new hires. I'd recommend anybody coming out of grad school go for it, and see how they felt about things a year later. But it will be an investment of time and require a premium of your emotional energy. I routinely work more than 8 hours each day and still have things left undone. For me, days usually run from 8AM to 6:30-7:00PM. I've gotten better at just leaving in the evening, knowing I've given my best. It's important to set boundaries with work. Some therapists do a better job and call it a day at 5:30. Unfortunately, there is a crisis mode mentality throughout the hospital in general, and the units are typically staffed at a minimum level. I'd recommend sticking close to positive folks and seeking to be one yourself---a lot of the negativity is unnecessary to be sure.