Pros
No standard vacation policy. The amount of vacation you get is up to you and your manager from day one. So it is possible to come in the door and take 4 weeks of vacation. Good Benefits. Very relaxed dress code. Shorts and tees in the summer months and Jeans and tees or sweaters or basically whatever you want to wear. The ability to work from home depending on your role. Good work-life balance.
Cons
Things are always in flux. There is absolutely no direction within the company. They jump from one shiny new thing to the other. Very silo-ed work environment. They are trying to move to a more agile development environment but the move is extremely slow. Heavy dependency on contractors on and offshore. Layoffs. They have and will layoff full teams in lieu of a "new direction" without warning. So it is extremely unstable. Reviews are extremely subjective and seem like they are based on how cool you are with your manager as opposed to your body of work which can make it challenging to get promoted. No training whatsoever. Basically you get pushed in the pool and it is sink or swim.