Pros
Lutron has never laid off a full time employee. They can accomplish this by hiring many contracted employees from domestic and international contract companies, especially in engineering. This provides protection for full time employees because contracted employees are usually lost first when people are let go. This has not happened recently, luckily for everyone. The benefits are decent and income is average. You won't get rich working here, but you will have a solid average career. Typically employees who go back to school are the ones that advance through the ranks fastest. Lutron also offers tuition reimbursement. I believe $5250 per year or up to 4 courses per year, whichever comes first.
Cons
Stress, but I suppose this depends on what department you work in. Working in Engineering I had opportunity to be involved in many different parts of the company including software designs, customer facing situations, training courses, tradeshows, and travel to different parts of the country. Lutron's culture of using contractors to support engineering is a blessing and a curse. Blessing because we can hire and release contractors depending on needs, which protects full time employees from layoffs. A curse because full time employees are constantly retraining new contractors that rotate into the company for a few months to maybe a year. This is a complete waste of time. Customer support scenarios are great when you're on the receiving end of support, but what employees go through to "talk care of the customer" is painful. Lutron markets "the best" products which are no more immune to software defects that our competitors. Ours just cost more. Working in customer support, be prepared for a tough career. Tech support positions are nearly impossible to get out of which means you're likely spending years on the phones until you can back-filled and moved to something else. New employees go through great introductions to the company with different classes at "Lutron University", but after that new product training is non-existent leaving you out to dry unless you take time to learn yourself. Documentation is a joke. Specifications? Yeah right, but I know this is true elsewhere. Still doesn't mean it's right... No communication among teams. I concluded this is because how busy everyone is, they don't have time to think about it. What I've learned is that if you work hard take care of the the customer and the company, you'll eventually get assigned more and more tasks until you break. Which is essentially where I am at right now. No breaks at this company.