Pros
Great vacation and sick time, 75% off education for your family, typical health benefits, as well as some other benefits around the University (half off your football donation, ability to be a member at the campus gym, etc). This is the first place I have worked where people stroll in at 8:30am and leave promptly at 5:00pm.
Cons
Horrible pay for support staff unless you have worked there for 15+ years then you are drastically overpaid. Employees are set in their ways and refuse to change. The inefficiencies of the University are so blatant and have to be a huge waste of time and money. You have to look out for your own career and pay because no one else will. There are no internal promotions, you must apply to a job with outside candidates.