Pros
Pay is enough to make a living if needed (although barely). It's fun working with new and exciting protects and technology.
Cons
Cisco used to be the place to work. It was a company once plagued with brilliant and talented engineers. Even so, the company and management would go out of the way to make sure one was compensated for hard work, brilliant ideas, game-changing strategies, and good 'ole focused and hard work. Now? Don't hold your breathe. Moving up in the company (not necessarily into management positions, but rather getting promoted and raises) is impossible. I had a conversation recently with an HR rep only to have her admit during the course of our discussion that the only way to get a decent raise at Cisco is to leave the company and then come back later. I'm looking forward to leaving Cisco and finding a company that has more growth potential -- a place that values its employees and cares about their livelihoods. Cisco used to be a fun, energetic and exciting company to work for (a lot like Google). Now it's just another bureaucratic jungle with little room for employee satisfaction.