Great and talented people collaborating together on interesting projects.
Pros
As a consultant, I've had the opportunity to work with great team members, on exciting projects, with very high profile clients. The project and client work I've done has varied and I've had the opportunities to move to different projects. Within each new project, there's new technologies and we are given the support needed to ramp-up and contribute immediately. The work environment and studio life are very laid back. I worked in start-ups for years and the culture within the studios are very similar. Everyone's friendly, there's a lot of studio parties and happy hour meet-ups after work.
Cons
In the end we're consultants, hired by clients to do specific work. Because of this, the work and projects vary. It's important to contribute and succeed on projects. It can be stressful, but given the solid team work and team chemistry it's easy to achieve. The concept of "the bench" can be negative. If people can innovate from there and aren't negatively impacted, it can have a positive twist.