Pros
Having P&G on your resume makes you very marketable to other companies. There are some non traditional roles available for people with science backgrounds.
Cons
Short of having a Bachelors in Engineering you will be a second class citizen. The R&D system is truly flawed. People with bachelors or masters degrees in a scientific discipline come in 2 levels underneath those with bachelors degress in engineering. If you have a science background you will not come in as a manager (like your classmates in engineering will). All of the effort is put into developing engineers for leadership roles. People with science backgrounds are expected to be a pair of hands in the lab. You may luck up and get a manager who gives you the opportunity to do the type of work that the engineers get to do but expect to get paid $20-30K less for the same work. What they don't tell you when you are interviewing is that only a very small percentage of people with science backgrounds ever get the 2 promotions necessary to get them to the entry level position for an engineer. For the few who do, the average timing is 10 years. It is very common for a person with 15+ years with the company who came in with a bachelors/masters in science to be managed by someone with a bachelors in engineering who is right out of college. To add insult to injury, any degree that you obtain while working for P&G does not help you advance. The expectation is that the new degree will just enhance your abilities within your current role. Also, those coming in with a PhD in a scientific discipline will enter at the same level as a bachelors in engineering. (P&G loves their engineers!) On another note, you can also expect to spend your time imitating your competitors b/c the culture has gone away from taking the risks associated with being innovative and has instead gone to a copycat paradigm.