Pros
Health insurance fully paid by employer. Job security (no layoffs). Employee stock purchase plan at 15% less than stock price. If you make it into the "IN" group, after maneuvering through political gamesmanship, you'll continue to grow your career.
Cons
Dealing with fake personalities (especially management). Anywhere from 10% - 60% of total compensation comes from a monthly bonus, which leads to unstable pay. Management can also change your bonus compensation as they see fit. Management frowns upon using up your sick time (even when the company provides 6 sick days a year). Lots of nepotism. Overall low employee morale/satisfaction. Poor positive feedback methods. No true mentorship. Do as I say, not as I do attitudes. Constant political gamesmanship garners more growth opportunities than actual hard work. Seniority means nothing, especially when it comes to compensation.