Pros
Good Management (Mid-level line managers are great). Adequate recognition and rewards. Vast peer resources (Subject experts all around) Honest and accountable corporate culture. Resources for Cisco Certifications. Great health and gym benefits. Cisco is a great place to work if you're willing to reach out to the experts and take charge of your own initiatives. There are many resources along the way to help you out. I say, and continue to say, this is a great place for college grads for the first 5 to 10 years of their career.
Cons
Cost cutting in talent recruitment (i.e. no more college new hires in San Jose CA HW Campus). Lots of lifers just hanging around doing average work. Bureaucracy a major hinder. Those criticisms are with any large company.