Pros
On my first day at Facebook, I remember asking myself, "Is this company for real? How am I here? How does this company exist?" Facebook is the epitome of the perfect company. A wise man once told me about the four Ps of the perfect employment: Product, Problem, People, Profit. Is the Product interesting? This product serves over 1.5 billion people - it is the most exciting product to be part of. Is the Problem interesting? Beyond interesting. We're trying to solve making the entire world more open and connected through communication, through sharing, through education, etc... In any area of the company, the problems are all great problems to solve. What about the People? The people are literally the best people I've ever worked with in any position I've been through. They are brilliant, kind, friendly and completely supportive. I left my last company as a senior member and at Facebook, I still feel like I'm learning something new from my colleagues every single day. Beyond my colleagues, the leadership here are more than supportive about an individual's career growth to help us grow deep within our roles, support groups to help you become a better manager, classes to help individuals transition from one career to another. I've seen many of my colleagues get the opportunity to completely change paths (e.g. Designer to Engineer, Researcher to Designer, Designer to PM, etc). You pave your own path and leadership here is supportive to help you get to where you want to be. So what about Profit? Facebook, luckily, is doing very well in this area. At a personal level, Facebook pays also very well. I was lucky enough to have my total acquisition package matched and exceeded which made saying yes to Facebook a no brainer. Take a great product, great people, amazing culture and a beautiful place to work and tie that all up in a bow. That is what Facebook is and I hope it never changes. I love this place!
Cons
The only con I've found is that Facebook's campus is a bit in the middle of no where but honestly with the flexible shuttle system and an all-day shuttle that goes back and forth between downtown Palo Alto, it's not so bad.