RAW vs Jpeg. Benefits & Drawbacks

Raw files have way more color shades than Jpegs.

Color gamut is wider.

Raw or Jpegs for portraits? Contrast, Saturation, Sharpening, and noise reduction are not applied in-camera: You get to decide the extent of such treatments in post-production.

RAW files are recorded in lossless compression, meaning you don't lose information while saving the image.

Color space can be changed in post-production.

White balance can be changed in post-production and it's not saved, embedded into the file's color profile.

Editing raw vs jpeg. Large processing of the data, such as correcting huge exposure mistakes, results in fewer visible artifacts when done from raw data than when done from Jpegs.

Changes made to RAW files are non-destructive.

Images with very high dynamic range are more easily and more effectively edited in RAW mode.

File size is bigger.

Without post-production RAW files look dull, not very sharp, not very contrasty and with muted colors.

RAW file formats don't have a standard like the Jpeg so you have to update your editing software in order to read new and upcoming formats from different camera manufacturers.

RAW files require post-production and post-production means more work and more time spent in front of the monitor of your computer.