Pros
good annual increment even when the company is not doing well or getting sold out
Cons
Lack of promotions, partiality and unfair treatment in career movement, partiality based on age, region, geographic location. A new college graduate gets hired with no experience at 10 lakh + per annum salary whereas 7 years experience lateral hire will get 7.5 lakh per annum. A college pass out can get 4 promotions every year starting from Associate TSE, TSE, TSE2, TSE3 for working on one SME with no knowledge on any other technology, certifications or even on the SME that they work on, they will always need support and help from seniors getting a pass based on their age. Whereas a lateral hire will stay stuck on TSE2 even when they work on 4 SMEs and support the college graduates in their work. In some cases, only NASA region employees get promoted and other regions don't. Lateral employees are undervalued and usually leave in less than 2 years. The only reason to stay will be for the money as you generally get good increments year after year even if you dont get promotion.