Pros
Amazing pay; often get to work from home; interesting projects; good opportunity to learn new skills and how to work with extreme independence.
Cons
Contractors are treated like pariahs, they are encouraged strongly not to participate in any company activities, and not associate themselves with the company in any way. Management is non-existent; sink or swim mentality taken to the ultimate extreme; almost impossible to get direction or assistance from management; perpetual state of "restructuring management" makes it easy for everything to be blamed on "transition". Almost impossible to transition from contract work to full time employment. Mandatory unpaid time off every two years to prevent you from converting to a full time employee. Working there was like sitting in the middle of a forest fire being told to fold origami with ice.