Pros
You have to potential to learn a lot. Things move fast so you get to see lots of issues and situations come up. It is an interesting industry so there is a lot to learn from that side as well. I would say the benefits and PTO is acceptable.
Cons
Every team works in silos. Everyone only wants to own their one area and have nothing to do with upstream or downstream processes. There have been so many director level and above firings in the last few years that no one wants to put their neck out. If there is an error, senior management may be looking for a scapegoat instead of trying to attempting to coach and retain talent. It is also an extremely meeting heavy culture, another sign of the bureaucracy. Most people will not pick up the phone and many get so overloaded with emails that the only way to reach them is out 30 minutes on the calendar. Most directors and above that I know have meetings booked solid, often double and triple booked, from 9-5. Compensation is below market, though many higher up in the company have massive paychecks. There is always the pressure to work more. My group is more lax than others but my unwillingness to regularly work more than 50 hours a week will probably be career limiting.