Pros
McDonald's offers and excellent benefits package including great insurance, 401k, stock purchase program, payroll deductions into a money market account, a concierge service, and a performance based bonus program. Good reputation. They provide access to large amounts of training through their Hamburger University at the headquarters in Chicago as well as a few other spots around the world.
Cons
Base pay is very low compared to similar companies. Insular culture. New employees in staff positions outside of the restaurants are viewed as interlopers. Employees act as if they are brainwashed. Promotions are given very sparingly, often taking many, many years. Minorities have a definite and recognized advantage in advancement over white employees. The staff has an average time of employment close to 20 years, making change very slow.