This is my first IT company.
Pros:
You will become an expert if you really wanted to. If you just want to rub the seat then better never think about working.
You will learn PHP, mysql, javascrip, jquery, ajax, json and lot more stuff that you will not come across in other companies. cause I learned all the above except javascript and ajax.
Total freedom is given for you to complete the project and you will have to say the total timing and you have to finish before that. So you are the PM, TL, Dev and tester to your projects.
Freedom of speech. You can always suggest new comings, new technology to all emps and also you can use it immediately after discussing with the boss.
you are warmly welcomed to do anything that makes the emps mind usefully and to grow the company.
You are a part of the business growth of that company because it is your work the clients sees. You put it right they market your stuff as an example for their company. so any body can be the key person.
Every thing technically is cool. you are the boss. you can share your thoughts. take sessions and seminars on any topic so that it will helpful to the other employees and hence the final product.
I had been typing for a long time so I am exhausted here.
Cons:
if you feel that you are already an expert then try to make a deal else switch over.
Environment is good for starters but not for others. if you want to only think about HI-Tech then forget this place.
Technically Lacking standards. No technical ethics. This is either an adv or a disadv. it is up to you.
Salary : what you do is what you get.
The business location and rainy season.
Conclusion
Besides all the above... I learned a lot technically. :) Enjoy.