They do not micro-manage, they set the expectation and you get to succeed on your own and take the accolades as well. Generous and easy to approve PTO time along with a fair understanding of family/work time.
I was fortunate to work under great management, and I was always given a great deal of latitude and flexibility in my role. I learned a lot about the industry, and about managing in a very fast-paced environment.
Cons
The fast pace can wear you down, and it is definitely not for everybody. I saw a number of good employees burn out and leave because of the constant pace and pressure. It became known as "the meat grinder".