Pros
Good entry level position. They will often accept and train those without a business degree, which was key for me. I started out (at IBT, which State Street took over) as a Politics major with no previous business background. While it was a bit of trial by fire, I was able to move around the company, and learn many different aspects of the business. To a large degree, it is what you make it. You can come in, put your hours in without much thought, or you can make your own projects to improve the processes. Don't wait for anyone to give them to you - they won't. There are too many people there for them to care if all of the Rep I team members are advancing.
Kontras
Its very much about who you know. Its very easy to get used to thinking about your little piece of the pie, and ignore everything else.