Pros
Ethical Business, does good works in the world. Practices pro-employee policies. Ample opportunity to propose your own projects to make improvements. No micromanagement.
Cons
Rigid Bureaucracy makes cross-team collaboration complicated. Siloed Knowledge. No micromanagement, but sometimes there isn't enough management in general. Shortage of cutting-edge skills and experience. Long-term employees can be 'too comfortable,' and aren't motivated to make improvements or take on new responsibilities. If you aren't self-motivated, you can end up spending your days doing routine tasks and losing your ambition or technical skills. I've heard people say that after spending several years at RAND, their skills and experience are out of date, and they are concerned they couldn't get employed elsewhere.