Vantaggi
Flexibility in schedule and laid back environment. Ability to move up if you are motivated and smart and are in the right situation. Pay is good if you are in demand, since they don't carry a bench you can ask for significantly more in salary if they have an interest in you for a project. Even saying you will "think on the offer" can get you more.
Svantaggi
Lack of attention to detail, the laid back environment can lead to major mistakes which I saw multiple times on different teams. Your job is only as secure as your contract as I have seen people let go before their contract is up. Adverse to change and adopting new processes/best practices. Focused on monetary goals and not staff, which I found different from a private company. Basic accommodations and technology at HQ