Pros
The benefits are amazing, with the exception of medical insurance which is subpar. PTO as of 2016/17 is amazing to start. The bonus plan is generous. A majority of the people are competent, friendly, and easy to work with. There are ample opportunities to grow within the company if you have a skill set that moves you out of IT, if you so chose. The company is financially stable, however there is much movement in the IT organization after the massive mergers that have taken place. The work from home policy is generous, if your manager allows. There is never much sense of urgency to get things done which can be both a positive and negative: A positive only if you like to work slowly, or to take time off (see PTO policy).
Cons
The technology is either dated, or chosen poorly for the tasks required. There are some employees that are distracting from work, hoard knowledge, and are generally disruptive. They're allowed to continue with little intervention at any level for prolonged periods of time. Recently IT went through a reorganization, and one must realize that as a whole (I was an exception) the pay isn't always industry rates. Additionally, the titles have all been standardized to c. 90's-00's titles which mean that finding a position at some point will be difficult if you're reorg'd out, or become stagnant in your current position. Additionally, in the most recent organization more qualified people were passed over for significant roles while the "favorites" were promoted or left in current positions. Demotions were sold as a lateral move, when in reality it was a downgrade of responsibility, title and would negatively impact job satisfaction. The company can work at a molasses pace sometimes, while spending vast amounts of money. Decisions are sometimes hard to come by and delay improvements to software. Historical technology decisions have caused issues for both employees and customers. Historical over reliance on contractors and consulting firms.