Pros
Benefits and holidays are standard or better. Pay in our office is good, though I don't know about other campuses. . Office culture depends entirely on which office you work in, and on your immediate supervisor, as does general flexibility of hours worked and ability to work at home. In many cases it's quite flexible. Many teams are supportive of each other, in a we're-all-in-this-together sort of way.
Cons
The members of the executive management team seem not to understand the meaning of "strategy" and do not seem to value consistency. They spent 4 months putting together the next year's budget, working through (or having managers and directors work through) a wide variety of scenarios and possible priorities. Once the decisions were made they immediately began changing them, rethinking priorities and adding money to some just-approved annual project budgets while reducing the just-approved budgets of others. Their main technique for dealing with the resignation of someone at the Director level or above seems to be to re-arrange the org chart, and then to re-arrange again in 6 months before the first re-org has had a chance to demonstrate whether it's working. Decisions seem to be made based on little evidence and on the whims of C-level executives rather than on commitment to a set of coherent objectives. Work/life balance is good for me, but I see Program Managers on call day and night to respond to endless requests for status reports that no one seems to read and for recommendations about how to accelerate projects or outsource more responsibilities.