Pros
Caltech emphasizes retention in addition to recruitment. Benefits are great, especially the less common ones - free access to excellent gym on campus, flexibility in working hours if you're an exempt employee, casual dress code. The focus here is on excellence - you are working with the best of the best and you know it. HR strives to provide continuing education plus their support for new managers is superior.
Cons
The culture and history of each division of Caltech is very independent which affects the budgeting process. Every division can do it's own thing. Sometimes this leads to duplicated spending, especially when it comes to infrastructure type things like IT support, and library. Management could focus a bit more on achieving economies of scale by eliminating redundancies.
