Pros
Even with less than 3 years of experience, you can get a position here that immerses you in technology. Not exactly cutting-edge, but still fundamental technology.
Cons
Your job title means nothing. You do your job and the jobs of other people (watch out for product overlap where people will try to get you to do their job!!) There's a LOT of micromanaging that goes on in R&D, but it depends on your manager really. Most of this company is just developing and trying to fix legacy software - there's not a lot of active research going into making their products better using new technology. The company complains about their revolving-door turnover rate, but they don't pay their employees enough to stay competitive and they maintain archaic, inflexible policies (8-5 work day, no flex, no comp, lunch 12-1, no exceptions).