Pros
Good people to work with, competitive benefit package considering most employers are going to high-deductible plans with HSA or FSA. Fascinating projects that are complicated and difficult. We don't do the cookie-cutter type of projects. There are some good line managers and VPs who stand up for their people.
Cons
My group is under-staffed, the work load is heavy and there is no end in sight. Some positions have gone unfilled for 7 months. The loyalty of the functional personnel is being tested. For exempt employees, there is no comp time or other recognition of hours worked over 40 a week and that gets exploited regularly. Line managers have little opportunity to totally unplug on weekends or vacation. Procurement of some of the simplest things involves bureaucracy and red tape. There is talk of work-life balance, but it has not been observed by this employee. There isn't much time for learning or teaching on the job. Be ready to hit the ground running.