Pros
Stable environment. You can probably work here as long as you want.
Cons
Very few options for individuals to move up internally. I watched a few years ago as a manager left our group without a backup. A subordinate did the job (better) for 6 months. No substantial compensation was given and the position was given to an external hire. I've seen this happen a few times within my business unit. No issues with the current manager, but the unwillingness of the company to pay the going rate for certain positions is beginning to become infuriating. Currently being paid about 20k less annually for the role I'm in than what the market dictates. This is solely due to it being an engineering role. I know what a predecessor was paid since they transferred their network drive which had old annual reviews. We have also grown substantially since that predecessor was with us, but the pay has actually declined precipitously. Unfortunately taking advantage of the company's tuition reimbursement program has tied me up for a couple years despite current job offers elsewhere.