Pros
Good health benefits and stock purchase discount. Good gym, lot of celebrations, lots of lunch meetings (free food). There are plenty of technical courses that will enable you to keep up to date professionally. There are a lot of non work related mailing lists that you can join for areas of your interest. If you get the right assignment work can be interesting and cutting edge when it comes to the industry peers.
Cons
Qualcomm organisation lacks structure. If you have worked at a process driven company it takes time to understand how things function. Qualcomm is also an old boys club. If you know someone higher up or have been there for years and are well connected you will not have a problem, otherwise you are going to remain where you are. if you stay at QCOM for several years then eventually some of the stock options will be worth money.