Pros
P&G's set of Values is deeply rooted in the company's culture: an employee will never be asked to perform an action that is unethical. The working environment is very active with any average employee handling a multiplicity of projects and priorities, therefore allowing the learning of priority setting. Working environment is OK: company principles operate at all levels and enable most organizations to collaborate effectively. Most decisions are preferably taken based on data, rather than personal opinions. Assignment changes are encouraged, except when they involve relocation. Salary raises occur in a more-or-less scheduled basis; therefore, salary raise requests are unheard.
Cons
Relocations are banned at non-management levels, which greatly affects possibilities for career growth. This is because certain work functions only exist in particular locations. In particular, the R&D career system is twisted to favor a group of employees over other, normally based in an academic background, leading to weird boss/employee relationships (a little-experienced employee can manage one or several experienced people). P&G claims to pay salaries according to local benchmarks, but this is done regardless of whether those benchmarks also offer fair salaries to employees or not, which lead to P&G paying salaries that may not allow employees to afford a reasonable, or even basic, standard or living. Business decisions are often very bureaucratic, leading to project delays which are then expected to be offset by employees.