Pros
I'm 10 years into a phenomenal career. I always wanted to have my own business. I have tremendous freedom in terms of how I work and how I spend my time. There is no other career I know of that provides such an optimal balance between incredible earning power/success and quality of life. Many of my clients make high 6 and 7 figure incomes. I wouldn't trade places with any of them because they all sacrifice significantly on lifestyle to make that income; they're all working 70 or 80 hours a week, constantly traveling, and they will be for the rest of their careers. I make mid 6 figures (about $500,000), my income grows meaningfully each year, and I probably am out of the office for about 2 months in total each year. It doesn't get any better. Oh, and I have company-funded pension and 401(k) plans. It's a phenomenal long-term opportunity to start a business without any money out of pocket and with very little downside risk.
Cons
Must be ok with meaningfully delayed gratification. Must be a self-starter. This career isn't for most people because it's hard. Not intellectually, but rather it requires significant drive and someone that's willing to work for a long time to actually build something (ie a business) as opposed to someone that just wants to show up, work hard, and get paid (like in a normal job) but without any meaningful long-term wealth or income earning potential. ** This is not a good fit for most people - they simply don't have the drive or tenacity - but for the right person looking to build an incredible business and lead an incredible life it's a 10/10 **