Pros
Benefits are good - but going the way of HSAs to save money. Profit sharing remains best "pro" - but similar benefits can be found elsewhere (I.e pension, 401k with no vesting requirement etc)
Cons
Most employees who sing the Grainger praises have never worked anywhere else, so they don't know any better. If you are excited about your new position and think "I'm going to work hard and climb to the top" you are going to be in for a very rude awakening. This is not a meritocracy, but instead an environment which should be the poster child for "who you know vs what you know". The last names you run in to will be your first indicator, as you will find that children and relatives of upper management run rickshaw throughout the company. Next are the minions who cling to these people in the hopes that their name might be dropped in an effort to gain entry into the "inner circle". If you are not a part of this, you will go no where within corporate. This is the case at many large companies, but here it is extremely blatant and magnified. Upper management is not accessible, and are treated like celebrities with the accompanying hero worship that follows. It is a very odd environment. You will be kicked out of meeting rooms for someone who is a higher grade level that you if there is a conflict, and also will be discouraged from questioning anything an executive tells you. I have worked at many Fortune 500 companies and this one is by far the worst when it comes to nepotism. If this is your cup of tea - enjoy.