Yes, your working for P&G, but in the beginning of your carrier your really working for (and hired for) a specific location. This is especially true in manufacturing- each one is a company it itself. Newer managers (millennials and Gen Y new hires) can be frustrated by this. A general expectation is to do 3+ roles (~2yrs per role) before getting support to apply for roles at another city or site. Just make sure you understand the expectations before you accept your offer.
Perks- no traditional perks such as bonuses until a Band 3 position. Profit sharing %'s have dwindled for new hires over the past 10 years, which is a shame since this is the biggest financial incentive to stay with the company for your entire working career... Especially since there is no matching 401k contribution. Plus, profit sharing is 100% P&G stock, which has been flat for 7 years.
Career planning: you have to learn the delicate balance of leading it yourself, without being pushy and unrealistic.
And lastly, the consumer products business sometimes isn't the most exhilarating... We're not producing Porsche's or iPhones here. We aren't located in the most exciting cities, and we honestly haven't really had any big innovations in a while. But we are 'stable', in a world that seems to be constantly moving forward.