Pros
It offers a basic salary.
Cons
1. After your employed, if your not in the country of employment. You get paid a lot less than what you would usually get, if you were.
2. Realistically, you can work overtime but not be compensated at the desired rate.
3. As the contractor, the company does not see you as a direct employee
4. There are no growth opportunities besides small courses, that you can find on your own.
5. Working hours can be horrendous and without consideration for your time outside of work.
6. There is no clear trust between you and the company. If a client raises concern. In other words the client is always prioritized above your duties or supposedly well-being