Pros
The people at IBM are great! IBMers are friendly and have an inclusive culture. IBM has a nice work-life balance, just make sure to not sign a contract that asks you to come in 3 or more times in a week, not good for your wallet.
Cons
Someone with a spreadsheet of employee list will sometimes decide to cut the numbers in half without understanding how the teams work. Which means there is comparatively less job security than other MNCs. In recent years, the deliverables have gotten a bit rushed, IBM used to care more for quality, but since the AI boom, everything has gone downhill. We see a lot of PR talks and empty promises from the leaders who do not understand how software works. Up to senior developers, the pay is average, may be a bit less compared to other companies.