Pros
Probably the best recruiting and HR team with whom I have ever worked. The benefits are very good - particularly the unstructured personal time. The company is trying to make real improvements, and are bringing in -some- of the talent required to make those improvements happen.
Cons
1) Some individuals at the VP level are clearly there only by virtue of longevity. 2) Poorly performing individuals keep their jobs because they have either a history with, or a relationship to, the founder or other senior execs. 3) People in senior management positions often have no leadership skills whatsoever, leaving the people working for them completely in the dark as to the details of what is expected of them, in addition to what their goals and objectives should be during the quarter. It is now the middle of Q1, and I know many people who still do not know what their MBOs are for the quarter. The fault is not theirs, as they cannot get enough time with their managers to discuss it, as their 1:1s are continually either postponed or canceled entirely. 4) Senior managers, directors and VPs spend the vast majority of each day in planning meetings, and literally no time actually managing the people working for them. 5) While talent gets you in the door (there are many talented individual contributors), getting into the "good ole boy" network is the only thing that keeps your head off the chopping block. 6) Recognition for work well done is offered very inconsistently, and typically only for the projects with the highest visibility.