Pros
Working at LSI has given me the opportunity to work with cutting edge storage-related technologies. The work is challenging and you get to work alongside other extremely skilled engineers. Unlike some other tech companies, LSI rarely expects you to put in over 40 hours a week, making work/life balance easier. The office culture is very relaxed, work hours are extremely flexible and the dress code allows nearly everyone to dress how they want. If you're determined, talented and hard-working, it seems to be fairly easy to advance your career. Most managers also seem willing to let you attend training seminars or classes to improve your skills.
Cons
Unfortunately, the pay and benefits at LSI are not the best in the industry. There are no annual cost of living raises, and although pay increases are performance-based, sometimes the less skilled employees end up getting bigger raises than the more talented employees. Currently, low-level employees (less than 5 years experience) are not eligible for annual bonuses, either. Outsourcing has become common at LSI, so large portions of work are done in India. You will be expected to work with these employees, so communication is often unbearably slow and the quality of work they produce is sometimes very sub-par. There are not a lot of young employees at LSI. Not a lot of people are familiar with LSI's products, so it can be difficult to explain to outside people what you do for a living.