Pros
I joined JP Morgan as a Software Engineer a while back, and really enjoyed my time there. Amongst the programming team I was a part of, everybody supported each other and wanted each other to succeed. There are some tremendously knowledgeable people there including several "big names" in the software development field. Management are generally very smart and seem to be all ex-tech. Meetings are always short.
Cons
Fairly long hours, though this seems to be at least partly voluntary. Bizarrely for such a wealthy company, hard-drive space on PCs is very limited, causing some people to waste a bunch of time deleting unneeded files from time to time(!). Mandatory "training courses" which had absolutely no applicability to anything I was or ever would be doing.