Pros
The benefits are very good (vacation time, tuition reimbursement, etc.). The people who work here are very dedicated, intelligent, and friendly. There aren't a lot of stringent policies that large companies can have; generally, they operate by a "reasonableness" policy where they are conisderate of employees' needs, and ask for the same in return.
Cons
It is extremely difficult to advance your career. While you may take on little bits of added responsibility, that is project-dependent and may not necessarily mean you've advanced in any way. There are a tremendous number of Vice Presidents, with no clear path from entry level, regardless of initiative. It's also possible to get "stuck" in a particular area of work that you aren't interested in. By working in an area once, if that area of work grows, you may be repeatedly depended on to continue that kind of work. Work outside of your immediate manager is difficult. If you express interest & expertise in another group's project, they may say they'll include you, but never do.