Pros
Really, it depends on a team. You can end up on one of those teams where the manager has no clue what they're doing, and you can end up on one of those where developers are staying together as a strong collective and the managing is ok because the projects are done on time and the money is flowing. Either way, you'll get to sometimes work with technologies you like and maybe even pitch a project. The projects that are available are usually quite interesting and deal with cool stuff.
Cons
You will sometimes be asked to take overtimes. Not always payed, but you can quite often just refuse. Some fishy mindgames going on in the upper management. Lots of bureaucratic and useless work. Fill your time schedule in excels, complete all the compliance trainings, etc. Internal networks are garbage. You'll have to memorize up to 5 proxies. External connections are very slow. The office I worked in only had 2 restroom stalls for the entire floor. Get ready to wait in line. This might sound funny, but this really distracts from the work and gets annoying really quick. You will be given a working laptop, but it is going to be pretty bad. Get ready to beg for a desktop. You can work on your own though.