Pros
Great benefits, regular pay increase. Many good employees
Cons
Full of corruption at the higher levels. Management at upper levels of several departments are corrupt. Look at the various lawsuits filed against them; and then recognize there are many more who would have filed lawsuits if they had the means to do so and didn't want to be forever labeled as a litigious employee. Policies are written by (or with) lawyers to protect the university; it is expected that you do not actually follow their written policies, but they don't tell you this. You have to figure out on your own which policies your supervisors actually expect you to follow and when. Do what they say and sometimes you get in trouble. Don't do what they say, and sometimes you get in trouble.