Pros
I had worked with EY for 4 years and it was a great learning experience almost each day since we were faced with new challenges every time even though it was a continuing assignment. The quality of work is good, the people we deal with are all subject matter experts and the trainings are top-notch. For example, Dolphy D'Souza takes Ind AS training, and what more do you need from such a professional services organization?! It is the highest paying among the big 4 and the best in terms of salary hikes and bonus.
Cons
The great learning comes at a cost of giving up work life balance and hence, makes it less sustainable for many. Hence, they witness high attrition and employee turnover rates. It is expected that we work daily until it is midnight and also every weekend. Taking off on weekends was considered a big luxury and irresponsible behavior. This however didn't affect me much since I was single then and not much of other responsibilities so, I was able to dedicate myself to work and I liked it. But, once I was planning to include things other than work (as simple as following my hobbies during non-office hours / weekends) in my life, it became difficult and hence, had to leave.