Pros
Lots of exposure and responsibility right out of the gate. Managers tend to be good on-the-job trainers. I really liked most of my project managers.
Cons
UPDATED: Management just announced changes such that employees will not receive cross-project reviews until they've been at the firm for nearly 2 years. That means you get the same pay, same title, same lack of recognition for 2 years. Their rationale? It balances out in the long run. What this explicitly means: If you're not planning on staying in consulting for the long-run, OW doesn't care about you. Staffing is a nightmare. If you tell ANYONE what your preferences are, everyone somehow hears that you're a whiner and not willing to do whatever the firm needs you to do... Work-life balance is a joke. Upper management talks about it a lot but partners don't care. Weekends? Holidays? What? Zero exit-opportunity support. Again, if you're leaving the firm, they don't care about you. No programs, no externships (I know there are articles on OW's website, but I've never heard of such an opportunity in real life) The firm is perpetually losing money, so terrible bonuses. There's always something to blame it on. My first year's excuse: Tough market. Second year: We spent so much time last year trying to get our act together internally that we forgot to sell work. Whoops. "We'll knock it out of the park next quarter though!"