Pros
Keeping the lights on never goes out of style, you'll have rock solid job security if your function is actually involved in providing that. There is a generally strong work-life balance culture, although some teams are understaffed and struggling to keep up. Prior to the pandemic that culture already exited but we had been a relatively traditional corporate workplace, since then we've really gotten into the "you're an adult, just get your job done" mentality. We work on systems that have a certain awe-inspiring scale and drama to them. Parts of this job are really [community standards]ing awesome.
Cons
Salaries can lag behind other industries, and the formal policies and procedures can feel kind of stifling - title growth and internal promotion are still close to 100% seniority based. The organization is also pretty siloed and, I mean, it is a utility - change isn't always celebrated and thinking can be rigid. So ambition is checked not only by seniority focused policies but also by the way that going above and beyond may sometimes not be welcomed.