Pros
Some of the great things about GDC is the compressed work week. Although the days are long, it can buy you an extra day off every two weeks which is invaluable during the summer months. The benefits are so-so along with the pay, but everything is negotiable there and if you use the right manipulative tactics there, you can bully HR around in the good times.
Cons
The place is incredibly mismanaged. When projects die people are left to their own devices to grovel for work elsewhere and it leaves you feel like you are playing musical chairs. Individuals are allowed to move around regardless of the state of the project they are leaving. Often there is no accountability to work done in the past. Senior Management seems to be all over the spectrum with an inability to manage large programs, understand the customer or lead a team.