Pros
Compensation - I think large corporations have more flexibility and opportunity to pay for and keep top employees. Career growth - there are opportunities not only within my organization, but also within others and throughout the world. Work/life balance - there is a healthy respect for employee work/life balance. Working from home when needed, or varying hours isn't a problem. The company definitely works with you. Fairness & respect - I see a great mix of individuals employed within my organization. People are treated as professionals and that is carried through all levels of management. I haven't worked for a more consistent organization.
Cons
It's a large corportation -there's always a chance of getting lost in the crowd. It also makes it more challenging to stand out in your job, but for those who work hard and take advantage of the opportunities presented to them, it becomes easier. If you're looking for a place where you'll feel like you're part of a family, look elsewhere. Again, scale is the factor. Another thing that can be a downside for some: working in a world-wide organization can mean odd hours for you. Imagine conducting business with team members in Asia or Europe. You need to remain flexible and keep track of the impact to your life/work balance.