Pros
Deloitte is an industry leader. They boast a good reputation, and hire the best people. Because Deloitte is privately held, the partners treat the company like their baby, and make decisions which are best for business in the long run. Deloitte takes care of its employees by offering a competitive compensation and benefits plans. You have a lot of freedom to customize your career including increasing your workload to "fast track your career" or decreasing your workload to focus on parenting and other life activities. Deloitte promotes a team/family culture, so you know your coworkers and care about them.
Cons
A downside would be you are judged during your year end performance evaluation on your participation in firm activities outside of client work. Your year end rating is based upon a "bell curve" and it is important to network because the firm is very political. They have many initiatives to promote work/life balance, but there are still strides needed to make it easier to balance having a family with working at Deloitte.