Pros
Benefits area very good. Pay can be good until you reach the high end of your grade level, then raises are very small. Bonuses are great, 10% and up depending on your level.
Cons
If your over 50, management wants you gone. I'm surprised there hasn't been an age discrimination suit. Performance reviews are a joke. They are not based on your results, but on whether or not the VP likes you. Your boss may give you a good rating, but your VP may lower it based on no good reason. I wish we would just stop doing reviews. All they do is kill morale. Also, you can be a loyal, hard working employee for 30 to 40 years, work your way up to a higher level, then suddenly be demoted because a new VP wants to demonstrate how good he is at cutting cost. You have no air cover unless you have a "sponsor". Politics and Nepotism are a way of life. Also, stay away from Engineering and Construction Services. They are the worst.The reorganize constantly. Managers manage up and only care how you make them look. One manager told me once I wasn't political enough. I used to enjoy my work. Now I'm constantly under a cloud of fear.