Pay is horridly low. I left for a non-management role and received a 20% raise.
Upper and middle management is completely out of touch with staff. It is so bad that a number of years ago, they were required to attend an all-day training course where they learned how to listen to their staff (seriously).
Employees are not valued, no matter their years of service. During my tenure, they let go staff with over 30 years of service to save a buck... Which they promptly spent on servers... Which they never used (see another review... It's true).
One year, they gave everyone about a 1% raise... And threw an ice-cream social to thank everyone 'for their hard work.'
A story to illustrate my experience: I never had a backup for my job (despite my constant warnings that they needed to get one for me)... Until I submitted my resignation. Magically, one was assigned the same day... I spent the last two weeks documenting my job (as no one else knew it and I did not want my successor to have to learn via failures like I did) and provided a copy to my boss and another to my (newly assigned) backup... I ran into my replacement two years later... I offhandedly commented about the documentation I wrote, to which he said that management gave him nothing and told them that I left without documenting anything.
The sad thing is that upper management seriously things that they are changing for the better (to remain competitive) and that they listen well to their staff. The truth is that they simply are taking benefits away (no job security, 401k match reduced, constant micromanagement over things that don't matter (e.g. Failure to arrive exactly at 8:30am daily), etc.) without compromising on their part (no increases in pay, telework options, flex hours, etc.).