Similar to other institutions, but with more reputation and less money.
Pros
Big names are omnipresent in this environment. If you are excited to meet the people you have only read about/from, this is your place. You also get a lot of stuff done, since one is obliged to work 11 hours a day, 6/week.
Cons
The constant lag of money, the incompatibility of leadership and scientific quality, the monotonous, very demanding and mind-numbing work climate are definitely the worst that I have ever experienced. Be advised: If you are not the best in your field, you will be squeezed out like a dry orange. To be "cost-effective", they let scientists do everything: From building your own power outlet (!) to making you make everything reusable again. What a time waste. There is a serious lag of happiness at this place. Just this week, an undergrad killed himself inside his dorm. A shame.