Pros
Accenture is a high intensity workplace and this is reflected in its market presence (and subsequent effect on your resume). You get to work on big projects with talented people and be part of the biggest changes to some of the biggest companies in the world.
Cons
Compensation is the major downside - unwritten company policy is to pay you just enough so that you don't quit. Promotions are yearly only and based mostly on your relationship with your career counselor, rather than your performance. A significant factor in promotion is your time at level, so that someone who has been a poor performer for 3-4 years is more likely to be promoted than a high performer for 1 year. Salary increases are non-existant as this is tied to promotions. In terms of daily work, Accenture now looks towards large-scale projects which have significant overhead and middle management which often leaves people feeling like cogs in a giant wheel. Internally, procedures and systems are laughably out of date and frustrating. The vast majority of internal functions required by consultants (IT help, finance, hr) have been outsourced overseas meaning long delays, language difficulties and constant procedural hassles in getting basic administration completed. There are significant gaps in role selection as well - technical IT people end up in functional roles and vice versa. There is a distinct feeling of being a peg put in a hole - if there is a staffing gap, any available resource fills it, rather than the most appropriate.