In a nutshell, the pros include having an interesting and challenging career that is different every day... You have the opportunity to make a positive impact on people and help them change behavior that got them involved in the judicial system... You have good job security (crime isn't going anywhere), and the pay and benefits are quite good, at least in my area...
The cons include being lied to non-stop and the effect that can have on your personal life if you're not careful and don't have healthy outlets for stress relief... There is the ever-present danger of being hurt or killed in the line of duty (although nothing like police officers endure)... And there certainly is a considerable amount of frustration associated with the job...
Of course, probationers aren't going to be happy when they violate their probation and are sent to prison, but I certainly don't feel like I have to "watch my back" in public or not wear my wedding band... That seems a little extreme... I've worked in a large city and in a small community, and I've always worn my wedding band... And while I'm always aware of my surroundings, I don't feel afraid to be in public... Basically, if you treat probationers like the human beings that they are, instead of like pieces of camel dung, you usually get the same basic respect in return... People can disagree with one another and be angry with one another without resorting to violence... There are always a handful of whackadoos--I've made it onto a couple of nutjobs' hit lists--but for the most part, when I see current and former probationers out in public, I'm not terribly worried