Pros
Work/Life balance is great; I tend to be a bit of a workaholic but I'm glad it's not forced. Knowledgeable colleagues. Managers vary but I haven't heard of many terrible ones and mine is great. Company has lots of long-term projects (consulting can be very volatile). PTO accrual seems a little low and you can only carry over two weeks between calendar years. Most of the benefits packages are middle of the road; not bad, not spectacular.
Cons
PAY! Pay varies among the different LOBs and divisions but apparently mine is the red-headed stepchild. I get paid about $8,000 less than the low end for my job title when I looked it up here (granted, the same job title can do any number of tasks within the company. What I do isn't particularly easy). Being in the DC area, anything less than $40,000 is near-poverty. My raise was less than the spot bonuses at my last job. Going to meetings and hearing about all the multi-million contracts they won while getting paid about $35k can be deflating.