Pros
The benefits are great. Health care, stock purchase plan, 401 matching, retirement plan. Salary compensation is competitive.
Cons
The company goes in all sorts of different directions, depending on ever-changing directives from the top. There may be an initiative in one area that employees devote all their time to for years, then despite impressive results and improvements in the right direction, it is scrapped because someone at the top had a different idea. There is also a lot of "behind the scenes" initiatives to keep the bosses happy, e.g. recruiting the person the boss wants for the job rather than the most qualified (happens all the time). Also, tweaking evaluations to make superstars out of select employees, rather than rewarding for true performance.