Pros
Work with lots of smart, friendly, super helpful people. Great, fun environment, and challenging work in an interesting industry. Company offers lots of perks for employees - great events/parties, happy hours, etc. Beautiful office space! Management encourages a work/life balance - almost unheard of at so many places!
Cons
For all the perks, a lot of benefits have also been reduced/eliminated... i.e there is no retirement benefit anymore (no 401k matching contributions, or profit sharing plan of any kind), healthcare premiums have become super expensive as it appears the company is covering a lot less of the premium. Furthermore, raises/salary increases are becoming more and more rare. If you're taking/reducing benefits, raises should help offset that for your employees. So much money seems to be spent on the office space and company perks, but a decent raise could really make employees feel valued.