Pros
F5 has reasonable compensation and benefits, and seems to understand the work/life balance. Vacation and holidays are standard for the industry and management seems to actually expect employees to take time off from work.
Cons
My overall experience with the company centers around poor communication and direction. We produce software in very rapid product cycles, which leads to serious feature cuts towards the middle of the process. Middle management is a tangled mess. Several large product groups with overlapping responsibilities. Individuals can be unknowingly working on the same feature in different groups. Leads to redundant work. Company has acquired several smaller firms over the last couple of years. Culturally never integrated well and do not have the same direction.