Pros
I have been a Security Engineer at Red8 for almost a year. At first I was skeptical about consulting work as I have always been an in-house engineer, but my mentor and colleagues were incredibly supporting and a wealth of knowledge. They made the consulting transition incredibly easy. There are a vast amount of pros, but the most notable are: - Investment in your education. You have the ability to learn all things security and even specializations. - Support your chosen career path. You've always wanted to be a cloud security engineer, pentester and GRC? They'll support your goals.
Cons
To be completely honest I haven't been able to think of any. Any company that will go out of there way to provide you support, invest in your future through education and pay you great money is a 10 in my book!