Pros
Benefits are outstanding. Free breakfast, subsidized on-site gym, summer weekends at Mt. Washington, NH, winter cruises to Cozumel, Mexico. Facility is nice. Conference rooms are comfortable Almost everyone has an office; everyone has a flat-panel 17 inch monitor. On-site cafeteria is cheap and food is good. Free parties ("Tuesdays") with food and liquor about once-a-month. Pay is decent (but not great) and bonuses are OK.
Cons
Extremely bad management. The middle managers are the most inept group of people you could have the misfortune to meet. Engineers who can't write code and can't ever get a project finished are the ones promoted. The internal processes, such as the build system, are a buggy nightmare. The templates for writing internal documents, including performance reviews and software specs were all designed by people who have no idea of how document templates work. The performance review cycle is ridiculously elaborate and rewards inaction and ineptness.