Pros
Teradyne is a place where you can feel at home and welcome. It has a culture that fosters new ideas and encourages growth by everyone. There are no closed doors; even the CEO has a cubicle in the main building. Many people work at Teradyne for a long time. I have met few people who worked there for fewer than 5 years before leaving, and I have known many people who stayed for between 15 and 45 years. Growth is steady and predictable at Teradyne, if slow. Benefits are good, and salary is on the low end of competitive. Paid time off is liberal and flexible.
Cons
If you aren't satisfied with your position on the ladder at Teradyne, as always, you can work harder and do more, but even the fastest growth at Teradyne is a snail's pace compared to other businesses in the Boston area. Occasionally, on big (especially new) projects, employees can feel the expectation to work upwards of 100 hours/wk, and these are salaried employees, so overtime doesn't exist.