Pros
Merit based rewards and appreciation. They try hard to keep up the budget and commitment for these even during tough times. They dont fire you unless you are an extremely poor performer and have failed despite multiple chances to improve. Good work culture. They accomodate people's limitations due to personal, family commitments as much as they can.
Cons
Midnight calls and meetings are just a way of life. You've just got to do it, people dont even talk about it anymore. Work-life balance largely depends on the type of assignment. Management can sound silly and superficial during appraisals. No career management as such, though it exists on policy. If you can seek the kind of assignment you want, and with some luck find it, then its not such a bad place. But you've got to keep looking. Pay is not competitive.