Pros
Great place for those interested in academia or staying in touch with their research roots but who don't enjoy the politics and constant grant writing of pure academia and would like to also benefit from a very livable salary. They have some incredibly interesting projects if you know where to look, and you can have the opportunity to really love what you do. They also do try to be very reasonable about work life balance, and can be incredibly accommodating with your life circumstances.
Cons
Not all researchers make the best managers, and it can be a bit of a mixed bag. Some managers are stellar, but often the incentives for promotions undervalue actually being a good supervisor creating some challenges at the middle management layer.