Pros
The company has an extremely desirable culture - casual dress, flexible schedule/work from home, everyone has an office. The company is very collaborative with everyone having an open door to their office and whiteboards everywhere. A great team approach to getting projects done. There is no logging hours or entering work done. All developers participate in a Technical Roadmap meeting to collectively determine development processes and technologies to use.
Cons
Some developers may find a con in that the development projects don't always use the cutting edge tools and technologies. Other developers may appreciate that the development team collectively discusses and evaluates new tools and technologies before incorporating them into new or existing projects.