Pros
Most of the people you'll get to work with (outside of upper management) are wonderful people. Almost like a second family. Benefits package is very good. Lots of people like the cafeteria (I don't, but to each their own). If you're an employee, you get a free AAA Membership (yay?). Honestly, can't think of much else...
Cons
Politics rule. The mission is rarely about putting out the best quality product possible. Instead it is about pushing out broken products to meet a deadline and then pointing the finger of blame at another department when things go wrong. Management only seems interested in moving up the next rung of the hierarchical ladder. Brown-nosing, kiss-a*****, and glossing over major problems and weaknesses is common. Outsourcing as much of IT and Development as possible is now the name of the game with the current CIO. If you like training your Indian replacement, this is the job for you. The almighty checkbook rules all. The bean counters in Accounting make all the decisions. As a result, everywhere you look, the company is squeezing 4 to 5 resources out of 1. Every department on the IT side is understaffed and overworked. There are never enough resources to do the things that need done, even though middle management continues to request them. Upper Management does not communicate their ideas, plans, and strategies (if they have any) to middle management, and then on to the workers. With major internal "restructuring" going on, the workers are often left in the dark wondering if they'll still have a job next week. Because everyone is so overworked and understaffed, inter departmental bickering happens frequently about who is going to do what. "I don't have the resources for that" is on loop 24/7. If your department is on the bottom of the departmental hierarchy, it will be constantly blamed for the faults of the departments above it. Blame rolls down hill, and upper management believes it all. The equipment you'll be asked to use is usually about 20 years old, and the cubicles are not cleaned by the cleaning staff (not paid for by the bean counters). Bring your own duster and cleaning supplies.