Pros
Mediasmith is a very comfortable place to learn the basics of advertising/media. It's a small company with a well rounded training regiment that exposes new employees to many different facets of media planning/buying. Coming into the job with no experience, I was able to quickly learn digital as well as traditional media planning/buying because they make a point to rotate their employees from account to account in an effort to provide a "media education". Everyone was very friendly and knowledgeable and the offices are in a nice part of San Francisco. There is also a keg on tap at all times and office happy hours happen at least once a week.
Cons
Most of the value of working here is the experience gained. The compensation is very low compared to industry standards. Most people stay for a short while to gain experience and then move on to a big agency or the client side. All though the office parties are usually fun, the "mandatory happy hours" can get to be a bit much.