Pros
Work with latest technology; co-workers willing to help out; never lacking for things to do. Ostensibly it's a good thing to work for an amalgamation of research hospitals, but the realities of the work far outweigh the touchy-feeliness of the *idea* of working there.
Cons
Interview process did not involve peers, so poor vetting of candidates. Little in the way of guidance. Assumption that employees will be willing to work lots of hours after the end of the workday much of the time. On-call was mind-bogglingly bad. Very poor organizational structure -- poor staffing levels, poor training; no individual empowerment to allow improvement of organization. Lots of finger-pointing and under-the-bus throwing. Lots of 'institutionalized' workers -- 'lifers', you might say. Too many projects that are deemed 'top priority,' so everyone bends over backward and works too hard too quickly to satisfy too many people in positions of power. Over-reliance on the mantra "it is what it is," suggesting that change does not happen easily or willingly. And remarkably mediocre benefits for a healthcare non-profit (including having to buy additional time off). PHS has lots of money, but also a great deal of institutional arrogance, and isn't afraid to throw its weight around.