Here's my pros and cons:
+ Compensation is insane. I don't think there is anything else in the world I am qualified to do that would pay me nearly as much.
- Deceptively long hours
- Constant deadlines that are often solely dependent on you. If you are at the senior level or higher, there are often features that depend only on you. If you miss a deadline, several people up the chain will most likely know about it. There is no one to share the "shame" with. It's all on you.
+ Flexible schedule. Every place I've worked has been very accommodating (usually to the point of not caring at all) of family obligations, doc appointments, start time, etc.
- Constant objective changes. Speaking from FAANG, things are constantly changing. You could be months into a feature, priorities shift, and they shelf the whole thing. Not to mention the re-orgs.
Overall, I feel very fortunate to have this career. I often see folks my age grinding away at some soul sucking job and my gratitude intensifies. However, it's not all sunshine and rainbows. The nap pods and ping pong tables are just a recruiting tool, not part of day to day life.