Pros
BENEFITS, professional development, opportunities to grow and move within the company, paid every week (hourly non-exempt employees), overtime and holiday pay (again for hourly paid non-exempt), on-site urgent care center and medical center, health insurance that has no deductible, vision and dental, tuition reimbursement, career mentoring, 401k, PENSION PLAN, 12-14 paid holidays per year, bereavement leave, maternity leave, parental leave, 4 weeks vacation (minimum) per year, 8 sick days per year, 3 personal days per year, flexible hours, commuter benefits, dependent care, etc.
Cons
Your pay may seem a bit lower compared to the same title at a private corporation, but you have to weigh that against the benefits and perks you get working here. Id rather make $50k and have fantastic benefits and workplace flexibility than make $60k at a private corporation and have nothing else to show for it. Also, annual merit increases do not adjust for cost of living increases.