Pros
Free soda and weekly bottlecaps are great, and many developers are extremely intelligent and can tackle anything if they're allowed to. Benefits are pretty standard, but meet my family's needs. Work/life balance over the weekend (not during the week).
Cons
A lot of CYA attitude. Constant 'written warnings.' People at the bottom of the org chart are pulling 2x their weight and getting paid half of what they should. Relatives of senior management get their friends and family members to have jobs that they are not suited for. Projects that go well get recognition, projects that don't go well get everyone in a room and everybody gets yelled at, questioned and dirty looks, but senior management never cares to find the root of the problem. The root of the problem is that the company doesn't trust its own employees and puts automated systems in place to alert others when you're doing something wrong. Resource Manager is disliked by everyone and is a major kink in the hose, so projects get the wrong people at the wrong time, which just hurts clients and the Nerdery's reputation.