Pros
You will learn a lot in a short period of time. Once you have felt like you are not learning on a day to day basis, find a new position at a different company. Compensation is quite good to begin with but as time goes on just know that new people being hired will be making more than you (industry standard). Yearly raise are below inflation (~1.85%). Benefits are standard within the industry. 6% 401k, 75 cents on the dollar (so 4.5%). No stock options unless you are very high up. Good holidays, quite flexible with working hours, if possible e.g. work 0600 to 1500, or 0900 to 1800. Maternity/Paternity is average for the USA. Paternity leave, a week off. Nothing comparable to Europe.
Cons
Biased Bonuses. At every company there is some type of bias when it comes out to giving bonuses. This usually entails getting input from other departments (technical operations, operations, maintenance, automation, etc.) and have that input dictate into your year-end review. Yet at Merck, for 2014, I did not receive input from other higher level individual contributors (my colleagues) and only got input from the operations department. I received the middle grade in the bonuses which is fine, but the fact that my reviews were not from a wide variety of people is pathetic. Also, I have colleagues who work extraordinarily hard and contribute work that contains amazing of value to the company just be sidestepped by someone else because the other person got along better with the manager. As for culture & values…know that the business comes first.