1. Minimal recognition for hard work and sincere efforts
2. Onsite opportunities and good compensations are guaranteed only if you consistently remain in the good books of the PM
3. Minimal professional ethics
4. Very little scope for professional growth
5. Very little pay hikes, if any
6. Sometimes, your appraiser can be your junior!
7. No facility for airing complaints. In fact, it's best if you don't complain - if you do, it could cost you a promotion or result in a bad mark with the PM and an indifferent appraisal.
8. No clarity or transparency in recruitment or compensation.
9. The least said about the HR guys, the better.
10. Last but not the least - it's all about politics, politics and more politics.