Pros
Large company with a good infrastructure. Rich, interesting, history. It always seems to be the standard by which other helicopter companies are measured. Mature safety culture and SMS program, but still has some room to improve. I was hired into the 206L series (VFR) in 2012. At that time, initial training was fantastic. If you're dead set on flying helicopters, it's a great place to get turbine helicopter experience in a challenging environment. Great maintenance. If you do your job in accordance with the General Operations Manual, you'll do well there. I happen to like the 14/14 schedule. It could either be viewed as a pro or con. Travel to and from work is on your own, both in terms of time and expense; this is the standard in the Gulf though. On a positive note, you can live virtually anywhere as long as you show up on time. I've known pilots who commute from Hawaii, Puerto Rico and many come from west of the Rockies.
Cons
Lightship: CONSTANT changes to your plan all day long if you fly production jobs. I don't happen to mind this, but it flusters a lot of people. Long duty days, maxed out in the summer. Heavy ship (not from my experience, but it's obvious): do the same thing over, and over, and over, and over again sitting next to someone you may not like. No air conditioning in the Bell 407. It's difficult to transition to bigger aircraft from the 407, including the EC135, without previous multi-engine helicopter experience (ie you're not competitive in the job awarding process). Living conditions at the bases are not great, but acceptable. You'll always have your own bedroom with a sink and TV. You often share a bathroom with one other person. Communal living area with a kitchen and bigger TV are common. Most bases have a gym membership or an on-site gym. Offshore accommodations can be a little rough. You might share a room with several guys (snoring of course), communal showers, may not have personal internet access. You're usually fed pretty well though. The cumulative compensation over the long term is becoming much less competitive compared to helicopter jobs in other sectors and many fixed-wing jobs due to the slump in the oil and gas industry. A First Officer at a 121 major airline could easily make more money than an IFR heavy Captain at any company in the Gulf. Apples and oranges, I know, but the abundance of helicopter-to-airplane transition programs is making it hard to ignore the comparison.