Pros
Opportunity to practice tax across all entity types (1040,1041,990, Estate/Gift, 1065, 1120, 1120s) for both Federal and State purposes. No pigeon holing like at the big four. Solid pay and benefits for tax practitioners with CPA licenses. Busy season (3.15, 4.15, 9.15, 10.15) hours closer to 60 billable hour maximum, as opposed to big four 80 hour billable weeks. I am judged on the quality of my work, not just the quantity of my output. I actually like my partners. I work with them directly; they aren’t just egotistical figure heads in corner offices. We have been growing in the South Sound (Tacoma, WA) steadily over the last three years while our competitors are struggling to keep their clients. One thing to keep in mind is that every office is different. I may really like my Tacoma office but the Seattle office is an entirely different environment, even though we use the same processes for our service (I'm not inferring anything about the Seattle office; it's just an example). I really enjoy my Tacoma co-workers!
Cons
It’s still public accounting and work/life balance is not possible for a service based partnership. A Jockey is to a Partner as a Horse is to an Associate. They have to whip us to keep up production, but need to make sure they don’t kill us in the process. It’s the nature of the beast in public accounting and I don’t blame the partners. Our technology is three years behind most firms, but the partners are quickly trying to shorten the gap with Citrix servers and better paperless options along with automated workpaper processes for most businesses. It takes three years to get a bonus; that is far too long in public accounting. My partner does recognize that and hopes to change it.