Pros
Caterpillar is a global leader in its industry, and invests accordingly in people. People generally have opportunity to grow their careers in direction of their choice, have global mobility options, and I feel have genuine respect from top management. In addition, Caterpillar is extremely ethical, with management required to annually disclose any actions or situations they are aware of that are possibly in violation of their code of conduct. Every year, employees complete employee surveys that provide opportunity for anonymous feedback. Managers are evaluated on these results, and so are 'held to the fire' to be responsive to employees concerns,
Cons
The majority of locations are not in high profile urban areas, and so it is not convenient to include some of those advantages in personal life. For instance, Cat's global headquarters are in Peoria, Il. Peoria has 300k people and 1M in 60 mile radius, So, they only have minor league hockey and baseball, and arena football, and a university (Bradley) that doesn't have a football team. It is 3 hour drive to Chicago, St. Louis, or Indy. Other major locations are Decatur, Il, Lafayette, In, Raleigh, NC, and Aurora, Il. Intl locations are Grenoble, France, Geneva, Gossellies, Peterborough, UK., Sagami, Japan, and Piricicabo, Brazil - nice places, but again for the most part, are not the major metropolitan centers.