Pros
If you are an experienced, highly driven consultant with connections this is a good environment for advancement, as the career path is clearly defined and quite aggressive. Will quickly gain skills and experience desired by many companies.
Kontras
Unless you have a few years of strong consulting experience, this is not the place to be as there is no real training for new hires that come in at a level other than entry-level analyst. You must 'network' your way on to projects, therefore a new hire without any prior working relationships with current employees will not get staffed easily. There is basically zero assistance from HR to facilitate staffing on a project where a new hire might be successful, and in many cases new hires are staffed on a project because they need 'somebody' not because you might be qualified for that role. Similarly, you may not be staffed on a project you are quite qualified for because the hiring manager would prefer to staff someone they are friends with. The performance review process is biased against new hires and biased against anyone who is not trying to fast-track their career up the ladder. Promotional candidates are openly rated higher than their peers even if their performance wasn't better to facilitate promotions. For example, if you have the unfortunate experience to be staffed on your first project with several promotional candidates, you can pretty much count on receiving a low performance rating - regardless of the actual quality of your performance.