Flexible, lots of home office, managers usually consider Project and Program Managers as owners of their team, such as a small business environment. Good company to progress fast, and good software editor to progress on all kind of technologies and processes related to the Manufacturing world. Good entrepreneurial spirit. Good wages. Good products, especially Windchill now.
Cons
Lots of work, too many managers (never seen so many VPs and related title in my life before), too much internal reporting and meetings. As a Program Manager, or PM, you are always in a situation where you have to justify yourself for whatever situation.