Pros
Job security, you know they will be around for a while. And it seems to be extremely difficult to be fired from Wal-Mart, based upon my experience trying to let a non-performing associate go. While there seems to be many opportunities for advancement, every store I have worked for has their short list for who can advance. For some reason, it always seems the wrong people on that short list.
Cons
Because of the corporate nature of the company, associates must schedule their vacations at least three weeks in advance. However, I have been called-in on my days off, and been told two days in advance that my schedule has been changed for the entire next week. While I know I have the option to not come in if they call me on my day off, a schedule change made with 3 days notice is considered etched in stone.