Pros
Money, no stress, vacations, multicultural environment, only English needed, easy to make friends, good flextime (at least in my case)
Cons
If you really care about your career, simply stay away from institutions: the way of working is insane considering the amount of money they spend. There is almost everywhere spaghetti code without any real possibility of improving the situation in decent times. On average, developers are bad, tools are inappropriate, technologies are often obsolete. There aren't designers or UIX experts: the applications are often ugly. Forget about mobile. On average, managers (paid at least 5k per month) are embarrassing. Mindset is the worst thing: people really think that this situation is common everywhere.