Pros
• Everyone is valued, no matter which team you're on. • Founders are well-grounded and take the time to listen to you • Vibrant, youthful team overflowing with talent (yet still humble and always looking to learn) • Workers are largely self-directed (yet still accountable to peers) • Flat hierarchy and complete transparency across the company. • Can choose SF & NY; can transfer freely • Depending on your team's situation, you may have good travel opportunities (SF<-->NY and recruiting ops) • Catered breakfast and lunch You'll work on something that matters. The college-aged crowd LOVES the product. You'll work with the nicest and most supportive people you'll ever meet.
Cons
• There's some technical debt that could use refactoring. • Writing good tests is hard. Some teams may want you to write tests for the sake of having tests. Would have liked more direction on how to test code effectively. • "Bugs" come at a much higher price than they would at a social network company, so be cautious that you're dealing with money. • Paypal is a large bureaucracy with so-so public reputation. Usually they stay out of the way, but they can be annoying to deal with.