Pros
Coca Cola is one of the most recognizable brands in the world and the people who work there are very dedicated to the brand. If you ask someone what they do for a living you would be told, "I work for Coke!" instead of their actual job title. Their compensation package is very competitive. I would even say that they do a nice job of being flexible with base salary so they can compete for talent.
Cons
The work environment is ever changing. I encourage change but there is something to be said for sustainability. In the three years I worked at Coke I had been part of many different reorganizations which impacted many people. New processes and ways to go to business change often. It seems as if the company is attempting to stay on the cutting edge in the consumer goods business but it can cause confusion in the workplace.