There's worse out there, but this job certainly isn't pleasant.
Pros
It really depends on the management team you're under. For the most part though, you should go into this job with no hopes for advancement. If you can handle that then the job really isn't that bad. You get yearly raises based on performance that range from $0.40 to $0.60. You will get one of the raises after your first six months on the job as well. You're also given two 15 minute breaks and a 1 hour lunch, which is better than some companies. Part Time associates get about a week of vacation a year and twice that for full time. Insurance and stock is surprising cheap and well worth it. I suppose the final good thing to say is that this is an extremely secure job as long as you work hard. They only fire for the worst offences, and instead try to pressure inefficient associates to leave. Some of them can handle it, and keep their job despite being worthless.
Cons
The pay is only slightly better than fast food or other greedy retail chains. When you consider that much of the pay associates receive goes right back to Walmart for groceries and such, minimum wage seems unfair. I actually receive $11.65 as a Inventory control team member, but I'm a rare case. If you've been there a year you can expect to make about $8.50 or so. Like I said, there is virtually no room for advancement. Even as you watch your store flourish and make half it's associates salaries in a few days, there is never any opportunity. Positions rarely open up, and for the last year have become especially scarce. College goes unnoticed as well, so don't go in as a student expecting to move up. You wont. Once again, depending on management, you will many times be treated like dirt. I can almost guarantee you will never get a compliment. I've worked for 6 years, and received a few from a manager that I've known for a long time. Otherwise, you will constantly be bombarded with your shortcomings. Although Walmart can be somewhat flexible on your schedule, especially for school, hours can be extremely varied. One week you'll get 32 hours the next, 12. It depends on your position, but I see cashiers deal with this a lot. Be prepared for this annoyance if you're going into that position.