Management - Top management is not aware of the work being done at the firm and who is actually completing the work. There is a lot of passing along tasks to others and then getting credit for the final product when it reality, he/she did nothing. Management should be better informed on these types of things.
Growth Opportunities - You would think that performance would be the driver of promotional opportunities... This is not the case at all. Favorites are definitely played and promotions are often given to the aforementioned people that take credit for others' work.
Heavy Workloads - There can be heavy workloads, at times. Although a lot of work is not a con in itself, when the work is mundane, tedious and unnecessary, it is. Also, a lot of work is not well communicated throughout and amongst teams. Better communication could make this much better (less duplication of work and last second projects).