Vantaggi
Very Few. If you are a client-side consultant, the work is okay. Most of the consultants are good coworkers. The health insurance isn't bad and the salary is pretty good. Some of the business sectors (Manufacturing, Energy and Auto) are doing okay and present good opportunities for growth.
Svantaggi
There is a poor pipeline, so being stuck on the bench or fired for lack of clients is high probability. This is an "old boys club" so good luck getting promoted or getting a worthwhile bonus if you are not very high up or know one of the senior execs. The 401k and Roth options are pretty poor and are not matched (or, if you are grandfathered in, are matched only on 12/31 of the year if you are still employed). Be prepared to work long hours and weekends, but still only bill 40 hours per week. Be prepared to work extensively while on vacation. Lots of upper management is very bad at their job - they are clueless as to the business, accomplish little and collect paychecks. They pay little attention to employee or company needs, blaming employees for poorly contracted projects that they signed and giving employees large quantities of work with last minute deadlines even when they were aware of the work/deadlines weeks before telling the employees. (Ex: Learning about a "last minute" presentation due on Monday on Friday afternoon. Forwarded email was dated from over a week ago)