Pros
Its a good place to start, atleast that used to be the the opinion. has wide range of projects in software development, can give many options to a beginner. One of the best things about TCS used to be the corporate training given to fresh undergrads. But then if one is from computer science background then such training is not of much use. So, i'd rather say, TCS is a good place to start if you donot have a software background as the training is good. The other good aspect of working TCS is some amount of choice in getting into development or technical projects once you are 3-4 years old in the company.
Cons
the heavy middle management of TCS stifles growth and encourages bad work habits. Not the right place to grow. kills creativity and adventure to learn. Once the training is over and the learning curve for software development is crossed over, TCS might not be the best place to stick on. The middle management just is too omnipresent , and most managers rely on taking the stick and escalating any thing..rather than leading the team. Its a sad thing that TCS or may be other IT consulting firms have too many managers and too few leaders. The employee would only want to stick to TCS after 2-3 years as a result of becoming complacent and unambitious or too afraid of going out in to the wild to do worth while things.