Pros
1) Excellent learning opportunities for those who are eager to learn or step up. 2) Free hand given to associate to manage things on their own which helps develop so many skills. 3) leaves policies are good, no micromanagement or questions asked until you are performing as expected. 4) very flexible in letting each leader make their own decision wrt their team's working style.
Cons
1) work life balance is almost extinct, people usually work till 11 PM. 2) HR is totally extinct. most of the people don't even know who the HR is ( they don't even do the birthday wishes, every team has to manage all these as additional responsibility) 3) so many responsibilities to individuals and almost everyone is spread thin across projects and initiatives. 4) bad annual appraisal therefore one looses interest after 1-2 years. 5) too many changes in org ( there is always some kind of migration or org. level change is happening which bring a lot of uncertainty and confusion)