Pros
The 5 weeks of paid vacation and the flexibility during the off season somewhat make up for the hours lost during the busy seasons. The atmosphere is a lot calmer and people are not as edgy when not under deadline and overall, almost everyone is easy to get a long with. Although this does not necessarily apply to my practice and my current level, there are global opportunities and rotations within other practices given the availability.
Cons
Given the volume of work, busy season does indeed take over you life with its fair share of weekends and post midnight work days depending on the projects and deadlines. A lot of what is done during the first year is very tedious and at times makes you wonder if you really needed to major in accounting to perform the job. It does not seem until you make at least senior will you really be able to focus more on the analysis of tax issues and rules. Due to the specialized nature of the NY tax practice, National trainings at times seem pointless as many subjects covered will not even be apply to certain groups/industries.