Pros
Once you progress, the work/life balance at PwC becomes very good. It is not the type of place you need to sit around and show face time and most partners are good about letting you dictate your own schedules. It is also a somewhat recession proof company - bonuses may go down but you will still have a decent salary and good benefits.
Cons
Like most job, the bonuses should be better. Allocation amongst groups of revenue takes away from successful groups lower ranking employees getting their fair share. Plus, if you sell new business (as in relationship) they don't allocate you much credit - maybe 5 to 10 at year and say it helps with partner admission down the road, never a guaranteed thing. Also, they have a lot of HR overhang - the people just keep coming up with new ways to keep you busy to justify their jobs.