Pros
Nice work-life balance. Atmosphere that is simultaneously laid-back yet stimulating and hard-working. Friendly, intelligent, and approachable senior engineers - a rare trifecta! Culture that used to be amazing, now still OK but a shadow of its former self. Corporate sponsored beer-bashes. Solid perks/benefits, especially 401k match and onsite training courses.
Cons
Company has slowly been going downhill; Salary hasn't kept up with industry standard, layoffs have been an annual occurrence, and growth opportunities are becoming even more limited within the company. Instability - both in upper management and in the company's products themselves - has become a serious issue. Both these have combined to dramatically lessen employee morale.