Pros
First, pay is really good and they are certainly competitive with the market. Second, benefits are great. Besides the standard 401k matching (6%), health benefits (which are decent), short-term incentive bonuses, and in office perks (gym etc) there are additional bonuses paid out as Stock Together grants and a healthy amount of learning and educational assistance. Verizon is still hybrid and looks to be staying that way.
Cons
The culture is one of experimentation and freedom, which is good, but a lot of the benefits of that favor those that kiss upwards the most versus actually delivering anything of real value. The continuous massaging of results to appear better than they are, or the rewording of initiatives to make them new yet they are the same old initiatives over and over. This makes the place seem more like a place where ingenuity and innovation are strived for but rarely actually achieved. Siloed workstreams with teams working on the same things continue to happen even after all of the reorgs and their attempts to fix. There is also a significant shift towards off-shore support models (for obvious cost reasons) and there have been several decisions in the last few years to chop entire departments and remove them or sell them to other companies.