Pros
A job at KPMG varies a lot depending on what team and what office you are in. Personally, I think KPMG's advisory practice is the best way to go. I actually work in a small group of advisory reviewing contract licensing to make sure companies pay fees according to their contracts. Such a role is so much better than the typical job functions in tax and audit. Tax and audit groups work very long hours and get paid less than advisory. Tax and audit roles offer little creativity, mostly they just do boring regulatory work and paperwork. Advisory still gets the same benefits as tax and audit like 25 days off a year. You also get 2 weeks off for having a baby, and there are overtime meals, per diems, hotel points, etc. In my role I don't have to travel much but it depends on what you do. Career growth at KPMG is great; you're almost guaranteed to move up the chain as long as you don't screw up, just do you time. The number one factor in moving up in the company is doing your time. If you are not amazing, that's ok, just do your time and you can become a manager. Once a manager, you don't have to work as much because you can charge less time to clients than the lower employees and so life just gets better.
Cons
For the most part, you are not paid or promoted based on skill or effort, so what is the incentive to work hard? If you are an all-star, you won't be rewarded. This means a lot of the partners and senior management at KPMG are people who just did their time and climbed the ladder. They often can't sell crap to clients, and they may not have a lot of project management skills, people skills, or technical skills. Don't get me wrong, they might have these skills, but there is no way to say for sure. Employees aren't put into roles that fit their skills and talents because everyone follows the same path. So the introverted guy might be sent to sell to our biggest clients. The cool outgoing guy might be doing paperwork all day or using excel all day instead of put in front of clients. Many of the managers and partners are lazy or incompetent. They pass off questions and work to those below them and pass the buck if something goes wrong. KPMG loves diversity and so you can occasionally be disadvantaged if you are a straight, white, male. Like anywhere, you will be more successful at KPMG if you can be popular and navigate a somewhat political organization.