Pros
Some excellent people in the middle, lower ranks and contractors. Diverse, promising recruits with fresh ideas and enthusiasm. Several really brilliant veterans hidden in the jungle (must be their day job). Decent base salaries, standard benefits package, liberal training opportunities.
Cons
Unfortunately, the best ones leave or are let go. Senior management not very self-aware or sophisticated. Lots new risk management programs, mostly fluff with no substance, resulting in riskier operation due to poor communications between staff and senior management, bureaucratic overwork, stress and general confusion. Mis-use of contract workers to avoid paying benefits and make budget (lay off when need to fill $$ gap). Penny-wise, pound-foolish not providing adequate support and tools to employees, not recognizing and utilizing (well-paid) talent. Software and hardware mess makes work inefficient and frustrating.