Pros
Flex time is nice. Pay is good if you don't mind the mandatory unpaid overtime. Cafeteria is nice and so is the gym. It is a great place to start your career. The majority of people here are friendly and helpful.
Cons
There is always the fear of layoffs. They preach safety over schedule, but only if we can still meet deadlines. The pulling of time records makes everyone on edge and almost scared to leave the office, even during lunch. Work/Life balance is non-existent. It is expected of you to be able to come back into the office at the drop of a hat to solve a menial problem that could have waited until the next day. There have been many company wide pay freezes or pay cuts. Opportunity to advance your career here is minimal or very slow.