Pros
fair compensation for average performers, great bonuses for top performers. Lots of opportunity to grow, develop and contribute. The best bosses are passionate, and will demand a high level of performance-- and it will be rewarded. Effort is good, but not as good as actually getting results. The scope of the company is so great, that if you are open to different areas, relocation, etc, and do what it takes to meet goals and contribute--the rewards are great.
Cons
There are politics to deal with, and sometimes "flavor of the month" can get frustrating. These downsides are minor in comparison to the many positive aspects.