Pros
KPMG has some very smart and talented people. The projects can be quite interesting if you aim to work on strategic-transformation projects and not just compliance, standards/controls or business process redesign. Compensation seems fair. Looks good on your resume.
Cons
Projects are often lost because of misguided emphasis on risk management. Advisory is often treated like "audit." At times lack of focus on what the client might want-- instead, too much focus on ensuring that products and services "comply" with whatever risk management parameters are in place, and what has been "approved." Advisory is supposed to be consulting, and KPMG should just call it what it is and support it as necessary to compete against other consulting firms. Otherwise, KPMG will never sucessfully compete against pure consulting firms with the flexibility and nimbleness to tailor solutions for the client.