Pros
Booz Allen offers some of the best people with the best work I've had the privilege of being involved with. It's reputation has been historically rock solid in the government sector and the benefits are very competitive. The projects/programs that are typically taken on are more selective than other consulting firms, which means that staff are generally offered challenging and interesting work, not "hired butts in seats" (or "TS cleared butts in seats"). The firm is very forward-leaning regarding internal collaboration platforms (hello.bah.com and Yammer), which helps tie far-flung areas of the company together.
Kontras
The cons have specifically come about in the past couple years. Specifically, since the move to take the company public and the subsequent fallout. Budgets are noticeable tighter for "niceties" like team socials, training, and other former perqs. "Lack of work" also seem to be more prevalent, meaning more folks are given the axe more quickly than ever. Quality staff without a project used to be given a lot more leeway, but now they're given two weeks to find something or else they're given the boot (like many other consulting firms in the area). On the other hand, perhaps it's just that I'm more cognizant of these individuals since the popularity of our internal social networking has grown. The ladder-climbing is much less of an issue to me. In fact, it's really no different than any other traditional company: sell your soul, move up the rungs of corporate success. If you're looking for "work-life balance," then you just need to find that balance and live with the consequences. If that means sacrificing a high-level and high-paying management position to build a quality marriage and raise healthy kids, then DO SO!