Pros
The benefits are better than other places, in my group the home/life balance is good but that varies depending on the group/dept. you work for, and the pay is good for the area I am located.
Cons
No room for advancement, raises/promotions are only given to a select group of employee's which are usually at a manager/director level and above. It is next to impossible to get a raise outside of the annual 3% or less raise. Some manager's routinely earn smaller bonuses/stock awards than other managers which creates tension. You can be promised a raise/promotion by your supervisor and have it never happen when other employee's get them within a month of it being requested. In my group 3 of the 4 manager's have received title changes/raises for doing the exact same work they previously did within the past 18 months yet no hourly employee's have received raises (other than annual raise) during that time. in our group we have one manager who receives the same stock and bonus amount as the hourly employee's but is required to do manager duties and follow the other rules for salaried employee's. You can receive a 3.5 or above on your review and still not get raises. Routinely get different information from HR depending on which person you ask. One person will tell you to do it one way and the next will tell you a completely different way.