Pros
No one ever seems to get fired, no matter how bad they do. The pay is excellent. The location and benefits are good.
Cons
No one ever seems to get fired, no matter how bad they do. This means low level managers who aren't fit to lead a dog on a walk desperately trying to get promoted who will do anything to impress their superiors. SAP is so big, if you have a problem there is no chance you'll ever talk to a real person in person. Everything is through ticketing systems, and it's all asynchronous, so nothing ever really gets solved. The good, competent people leave the company because of bad managers (this includes the good managers), which by and large leaves useless people leftover with a handful of good people pulling the weight of the whole project and not getting recognized for it (which leads to them eventually leaving).