Pros
You will have a wide range of responsibilities in your role and have the ability to learn whatever you want, if you have the drive and ambition. You'll work with bright, intelligent people. Good benefits. Great health/dental insurance, vacation package.
Cons
People are overworked. Teams are hiring in abroad offices but not locally. Everyone at the company is stretched thin and there aren't enough resources to build features the right way. Almost every project I've worked on has been forced to readjust schedule in a big way due to lack of planning and foresight. Incredibly negative politics. Managers are more interested in carving out their own power bases than building good product. People are afraid to share their opinions to executive management. There is a chronic lack of appreciation for the incredible amount of work done by people. There is a distinct negative relationship between organizational groups and between different offices. Compensation is not competitive over time. Small raises, no bonuses, rare promotions all designed to keep costs down.