Pros
A lot of great people that have worked with and for. Also, was able to learn a lot from talented individuals that have since moved on. Benefits start day one...5% discount on company stock. Big corporation with vast resources...unfortunately none have to do with IT software development.
Cons
Poor pay. Mediocre benefits. Almost 0 raises regardless of how stellar the annual review. Management has near 0 clue for ROI on IT projects, mostly due to upper-management promoting "people like them" and not the most qualified (no, definitely not me but others for sure). Ones who speak the truth are often ignored and either move on to better IT companies or are laid off. All suffer for that in the long run since it's always an IT problem and never willing to look "above" that. Phrase heard often: "We need to do more with less." ....not really good management but is an interesting theory that pretty much never works.