Pros
Freedom to work on the subjects that you find important. Ability to take any courses you find appropriate, if you have enough time. At the CST department, a great support structure when you are struggling with the pressure of producing publications, something that a lot of PhDs will struggle with at some point. Great Colleagues. Flexible working hours. Awesome travel opportunities to go to conferences around the world.
Cons
Salary is not great compared to industry. Depending on the type of project, you might end up working solo for quite some time. This has to suit you. The last year of a PhD is usually a bit of a slog, as you are trying to just write, write, write, as opposed to developing new things. It will be up to an individual PhD candidate to find the balance between work and private life. Thankfully, we have a lot of great senior colleagues that can help you with finding that.