Pros
Excellent benefits package (401k match of 6%, starting time off at 4 weeks, etc). They offer tuition reimbursement, which is a fantastic opportunity. Good people to work with overall. Nice bosses. Depending on the department/team, bosses can be very generous and flexible with time. If you are paid hourly, this can be very difficult to get; but if you're salary, the work-life balance is much better. If you do well, you do get noticed and have advancement opportunities (however, see below for a 'con' in this area).
Cons
If you start at a very low level, it's extremely difficult - probably impossible - to get a fair salary. From my experience, they have capped percentage raises, so it is impossible to get a fair market rate unless you're coming from outside the company. This is frustrating, especially when their current employees who work hard (and are rewarded with stronger year-end performance reviews) are unable to get a better salary than an outsider. Shouldn't you reward hard-working employees who have added value to your company with market salary rates? The company is also very hierarchical, and this can cause a lot of unnecessary red tape. A lot of systems are broken and it can cause difficulties when trying to do your job accurately.