Pros
I was fortunate to have a great manager that believed in my ability. This opened up the door for great opportunities to gain experience and see the world. Not always the case but its available if you go after it. Young colleagues made for a collaborative environment, ability to ask questions, and learn as a less experienced engineer. Most of the time I enjoyed the work. I certainly learned a lot and worked on a lot of different tasks (possibly manager related due to my pursuing it). I really enjoyed most of the people I worked with from all over the world. That was experience I can't place a value on and will never forget. It was my first major corp but I felt the benefits were pretty good.
Cons
Bureaucracy. Paperwork/processes etc. I understand that they exist for those incapable of doing things correctly, but when you know what you're doing it really slows you down - especially when you're relying on people that are slooooooow. There is definitely a lack of communication between management and lower level people. Also between PSL's. I'm not in a position to complain too much but I definitely felt, especially with the downturn, that a little pat on the back or some sort of small recognition for good work would be appreciated - especially with the added stress level.