Pros
I joined as a Project Engineer in the VLSI division of Wipro and the training program for entry level engineers was nothing short of excellent. The best thing about working in a service based company like Wipro is that you will get an opportunity to work on a variety of projects. If you feel that you have stagnated into just one position, then business needs permitting, you will be allowed to shift projects if you want. I found the middle-level management to be quite understanding in this regard. However, the senior-level management will need some convincing to go out of their way to accomodate such a need.
Cons
I got the impression that the senior-level management is focussing only on Bangalore and neglecting other development centers. My Technical manager was based out of Bangalore and he would visit us just twice or thrice a year. Secondly, there were not many projects that would come to Pune. The reason stated was lack of technical strength, btu I think there was more to that. Thirdly, the pay-scale was WAY below industry average. Agreed, Wipro is a service-based company and operated on lower profit margins, but the pay was less compared to even Infosys and TCS.