Don't come here to the Labs. Find a better job somewhere else. The real AT&T Labs don't exist anymore.
Pros
Compensation and benefits are good.
Cons
Don't come to work here. Go to Yahoo. Go to Google. Go to Facebook. Go to Microsoft. Upper management has destroyed all morale by constantly reorganizing and closing offices. Nobody seems to have any clue what they are doing. My boss retired very early at 55. Many long-time people who used to love working here have left last year for other jobs at the companies listed above. That tells you something right there. A lot of forced early retirements of the most brilliant minds in the company, and they didn't leave on good terms. It's not a good place to work anymore. Very negative atmosphere. Constant threat of losing your job. The Labs took away all telecommuting this year and screwed the people who can't relocate. This company is a disaster and they just don't care. You are a number to them. Go somewhere that you are valued. It won't happen here. Moving up the ladder is next to impossible and nothing you do matters to anyone in the real world.