Pros of Stem Mastering​

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Stem mastering allows the mastering engineer to have greater control over your track. This can benefit the artist particularly if you are struggling to get some elements to sit just right within the mix. With stems, your mastering engineer can alter the tonal balance, dynamic contrast, and gain staging with ease. Access to these files separately allows for a more cohesive final sound to be achieved. 

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Stem mastering is also great as it allows your engineer to affect only the stems that need attention. For example, in traditional mastering, if there is a boomy low-mid frequency in the vocal, you can use EQ to reduce or remove the frequency but in doing so you affect every stem in the mixdown that shares the same frequency. So the cost of removing the boomy low-end of the vocal may be that you have removed the depth and body of the guitar. Whereas in stem mastering you can apply the EQ cut to just the vocal, allowing for a more intentional sound without sacrifice.  

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Cons of Stem Mastering

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Stem Mastering is more expensive than traditional mastering, and the truth is, it's not always better. Stem Mastering is a great option for those who actively feel like their mix could be improved. Artists/Creatives who have a clear vision for their sound already and have executed it to within 90% of their vision will do just fine with traditional mastering.