Pros
Hard work seems to be rewarded quickly and graciously. Pay is more than most traditional companies but slightly lower than Google and Facebook. Stock Benefits (typically in the form of RSUs) and sign-on bonuses for higher up positions are OUTSTANDING. Even as an entry level manager, I was making 2X or 3X what my Engineering friends were from college thanks to Amazon's explosive growth (and stock price increase). Big, disruptive ideas are encouraged and promoted. In my experience the red-tape cautiousness of other retail companies doesnt exist here and the company benefits tremendously from it. Cutting your teeth in the Distribution Centers (FCs) is tough, and can be grueling both physically and mentally but is nearly a prerequisite to working in a huge operational decision making position.
Cons
Amazon is Darwinian in its employment practices. If you don't catch on quickly or don't try hard, you're going to be performance managed out. I've worked in several departments and Amazon will almost always weed out the slower, weaker employees Amazon still feels like a startup, especially in its emerging markets and newer business arms (just with billions in venture capital from itself). Work/Life balance is VERY hard to find in the more technical and operational roles within the business, but Corporate Work/Life Balance is FAR better than in the Fulfillment Centers