Pros
Benefits are quite good. Once you escape the entry level positions, salaries can be competitive for the sector. Some of the staff are great to work with, although sadly too many of the best staff have been pushed out the door or left, so fewer of them are left.
Cons
Senior management are completely clueless and out of touch. The CEO is in his own LaLaLand most of the time, and the COO seems completely ill-equipped for the job. The organization somehow continues to do well in spite of leadership's incompetence, primarily on the backs of hardworking foot soldiers. Units operate like personal fiefdoms, often competing with each so their feudal lords can gain more prestige and power. Loyalty to senior and mid-level management is often valued more than competence. HR has too many loudmouths who often don't take employee feedback in confidence, or simply ignore it. Systems and processes are often illogical and barriers to effective implementation, but people responsible tend to just shrug their shoulders about it. Strategic initiatives are often poorly thought out and money pits that reward certain feudal lords at the expense of efforts that would actually be worthwhile. Accountability and merit are just buzzwords, as ultimately a lot of decisions are made based on personal whim.