Pros
If you're on one of the teams that does nothing, you get to sit around working on other stuff all day. Benefits are about average. Pay is average.
Cons
Certain teams are horrendously overworked while others sit on their thumbs doing nothing. Horrible senior management. Middle managers that aren't much better. Individual contributors who are decent get bogged down in constant politics of politically correct vs. right thing to do. Middle managers are basically slaves to their bosses and independent thought is punished. If you have the ear of the one of the senior people, no matter how dumb your idea is, it's going to get implemented. And if you don't, regardless of how good it is, it won't. Zero advancement ability once you've gone beyond individual contributor level. Unbelievably stupid stack-ranking system for employees invented by Ratbert that keeps all the mediocre individual contributors employed.