Hi Rushikesh,

Jobs - Chemical engineering provides a wide array of a field to choose for employment. If you just want to earn money you may opt to work in petrochemicals field. ChemE also boasts of being a highest paid engineering major. If you have interest in biology, you may be pleased to join any biotech company. ChemE also provides job opportunities in the material science field. Nuclear energy (or any other energy field), Nanotechnology, pollution control etc., ChemE majors are lucky to choose any one of them as their career. So you would get exciting opportunities in the field you like which I think makes ChemE a "good" branch.

College Life- ChemE is a moderately difficult major. It is neither as tough as physics(or Electrical Engg.) nor as chill as metallurgy. You will have plenty of time if you wish to participate in extra-curricular, prepare for finance jobs or any other competitive exam etc.  

Professional Life -  ChemE allows you to choose a life you want. There are options for working on a rig(surrounded by sea on all sides) and traditional 9-5 job(like in design firms etc.). You are free to choose a job that suits your nature. There are jobs in most extreme weathers (like in Siberian oil fields), jobs in metropolitan(like in R&D department of a company) and job in small towns(chemical plants are usually located far from big cities). You can work both as a designer or operator of a machine/equipment. I don't think any other major provides you with such flexibility.  

Future Prospects - It has exciting future. A lot of work is to be done in nanotechnology and biotechnology. So expect a lot of action in future. Also with decreasing petrochemical reserve, engineers will be forced to look for new energy options(like solar, biomass) and thus again chemical engineer will play the key role in that.