Pros
The university as a whole has very employee friendly benefits and policies. Health insurance is has very generous contributions to dependents and the vacation benefits are positively European in generosity. It's also nice to think that working at a public university, your contributions lead to the enhancement of others.
Cons
Some parts of the university can be intensely political, and the quality of people I worked with varied immensely. I worked with both some of the best and the worst people I've worked with in my whole career while working here. If you can, take the time to get to know your potential close co-workers before taking a job here. Also, the salaries are generally not competitive with private sector jobs, so make sure that the great benefits package makes up for that (for example, if you have a large family, the healthcare benefits count for a lot, but not so much if you're a single person).