Vantaggi
You can miss as much work as you want (depending on who your manager is). This is good for the very sickly or the bogus people wanting days off with pay. If you are work committed this policy is not very attractive. You can claim to have vast knowledge and experience to HR in order to get hired. They do not test their applicants alledged skills or knowledge. They pay based on how well you interview and what you claim to know. Some people make $45K a year with no college (non management) while others make $28K a year with allot more responsibility and education.
Svantaggi
Absoluately no cost of living raises. You will get .25 per hour as a yearly raise, if you are lucky. Sr managers have zero people skills yet they cant figure out why the employee opinion surveys are so low every year. Office is primarily full of old timers that cant find a job elsewhere and gossiping 24/7. Numerous pointless mandatory time wasting meetings. Neglent hiring practices and supervision. Pro or con depending on who you are.