Pros
The company has extremely generous benefits. The retirement plan and vacation days are virtually impossible to beat. They also pay 50% of your gym membership and depending on your manager, there is a good amount of autonomy. The pay is okay... nothing to write home about unless you have been there for more than 20 years, or your boss really likes you.
Cons
A lot depends on your manager and his/her manager, which can lead to wide disparity. There are no true metrics for career advancement and salary information is especially secretive, leading to the ability to maintain said disparity. The good managers often have their hands tied and the bad ones are so busy looking for ways to look better that they take what's good out of you. It's an endless cycle. Those who desire career advancement have to hope that someone will eventually give them a chance. HR practices have enough holes to rival Swiss cheese. Advancement opportunities seem to be relegated to those from the outside and "friends" of those currently in management. Middle and upper management are out of touch with those actually in the trenches.