Pros
Benefits, Benefits, Benefits! Harvard is known for this but the other great advantage are your fellow employees. There are so many interesting, quality people who work here it's been a joy to come to the office. I find the questions and challenges I face in my job to be interesting as well. We're in tough times right now in every sector but all the same at Harvard there are the resources to try new things within your organization and in general the senior management is excited to hear about new and better ways to approach problems. Harvard's also a meritocracy in the truest sense. Talent is rewarded in ways that aren't possible in most Higher Education Institutions in Boston.
Cons
There is only so far someone not in a faculty position can go at Harvard. If you are a manager and want to move up, there's only so far you can go. I also feel like the biggest challenge at Harvard is communication. Almost every part of the University faces this problem.