Pros
There are tons of opportunities to learn about advertising and media if you look for them. Representatives from Google, Yahoo, AOL, etc. come often to give presentations about the industry and upcoming projects. Employees run sessions on interesting industry topics. Culture-wise, the hours are not bad and there are a lot of fun events to look forward to. You'll become an Excel and Powerpoint expert and learn about growing data visualization tools like Tableau. The initial pay is very good compared to the rest of the industry, however, raises are hard to come by.
Cons
The work can be boring. For the most part, in Strategy & Analysis, you will be doing analytics work - dashboards, reporting - and not working on strategy. Your analysis does not always translate into business decisions and there are quite a few projects there are only presented internally. There is a disconnect between senior leadership, who are looking for innovations, and mid-level managers, who are for the most part looking to keep the status-quo/keep clients happy. Opportunities for growth are largely based on the team you are assigned to. Chances are you will not be working on one of the game-changing projects. Raises/promotions can take several months to be processed and implemented.