Pros
The executive team trust that their staff will do the right thing. Do not burn that bridge and you are golden. Ability to get things done quickly and before due dates. Flexible schedules as this is not a 8 a to 5 9 M- F job at all. Allows you to show leadership, build your team.
Cons
They hire military guys as Vice Presidents and higher and have no HOA experience and know nothing about the industry so the first year is a learning process. Which means once you hit DCAM as a non-military person now you get left behind and stuck in the position with little hope of moving up. DCAM and CAM members are 100% responsible for all facets of their associations manage and can be ugly even if they work harder and careful strategically with processes. You can not please everyone and the fact is BOD's change and only stay with a mgmt firm less than 5 years typically. BOD's hated the accounting department.