Pros
The compensation is fair, the health benefits are very good, and the retirement package is great. HP is extremely focused on women and minorities in the work place and you will find that they tend to climb the ladder extremely fast. HP is focused on training and all though that has not been my experience other employees have had access to training. New employees can expect to be promoted within two years assuming you start at the bottom.
Cons
I've moved 4 times in the past two years. I average 70 hours a week. So as you can imagine dating for young engineers is nearly impossible and if your married don't expect your spouse to be able to contribute financially. HP does not consider spouse's jobs when moving you, lastly HP has an extremely high rate of divorce which makes sense when you consider all the moving stress and long hours. There is no Human Resources department and management is very proud of that fact, they are of the opinion that HR is a waist of money.