In the light of the above is a cliche - totally unnecessary. Just say after taking into account the pros and cons is more than satisfactory..

The phrase is 'in light of the above'. And it is unnecessary in your sentence, it doesn't add anything or make any real sense to be honest. I agree with Larry. Saying 'After taking into account the pros and cons...' is perfectly fine. You use 'in light of the above' to introduce a concluding statement. For example say you have already discussed the pros and cons of a situation. You then can use this phrase to sum up and say what your opinion is of the matter e.g. 'In light of the above I feel that...'