Pros
- Stable - Hard to get fired (is only really a "pro" if you aren't very good) - Good benefits - Decent name on resume (for some potential employers)
Cons
- There is a lot of bureaucracy standing in the way of quick progression, attitude is that you need to "pay your dues" for a (long) period, even if you are better than most at the next level - Pay is not competitive for high performers, and you will be up against caps on increases (max 15%) each year unless you have a manager who is willing to fight the system for you. This has a disproportionately negative impact on people who are early in their career. - Since pay isn't good, you work with a lot of people who are not/barely competent - Since there are people who are not/barely competent, red tape and bureaucracy is imposed to keep people from messing up