Pros
American Express provides a great environment to learn, grow, and advance. As you start at the company you and your boss discuss your current skill set as well as "development" opportunities. Every year and a half to two years, it is then common to move between jobs at the company, giving you the opportunity to try totally different jobs throughout your career. It is not uncommon for people to have experience in marketing, sales, account management, and finance. This movement is not just accepted, it is promoted. So, even if you decide American Express is not the place for you, you will have the experience to go wherever you want. You will also feel valued in your position. All jobs will be challenging and you also see how the outputs of your job contribute to company results. Those who are most successful tend to be those who are flexible and are strong problem solvers. All jobs (especially manager positions) can be very big, and you can certainly expand your responsibilities if you choose to do so. The people at the company are also a plus. Others have mentioned the politics of the company are an issue (which I think is the same anywhere), but most bosses have a genuine interest in seeing you succeed and grow. Your peers will likely become your friends, and it is not uncommon to see close friendships form (or even marriages). You will also be amazed at the credentials of your coworkers. At least on paper, you will be working with some of the most talented people in corporate America. The majority of promotions are filled within the company, which is a major benefit. There is less "teaching" new bosses how the company works, and there are several chances to advance. All new positions are filled through a "posting" process, which are open competitions. While some people get "tapped" into jobs, it is rare. You should not expect to start in a job and continue to get promoted in the same group. Hours are terrific (although this varies group to group), and people seem to be working longer these days. But, it is rare to ever see anyone in on the weekend. With Blackberrys, though, there are more e-mails late at night and during the weekend. Vacation days (which are on an annual use or lose system) are utilized by all employees, and there are rarely questions when someone takes time. This policy also extends to maternity and paternity leave, which are quite common. Overall, American Express is a great place to start and grow a career.
Cons
Most people have mentioned compensation. This is a reality that surfaces in every group and is often spoken about. But, the situation seems to be even more relevant recently as the company has made changes to stock grants, 401K, and bonus compensation that have further exacerbated the difference in what people could earn at similar companies. A decline in health benefits has also deteriorated to the point that anyone with options under their spouses choose those. Conversations about the equation of accepting this discrepancy versus leaving are common and somewhat demoralizing. Additionally, American Express has always been lauded for respecting their employees. This year, they have discontinued the employee survey, taking away the most effective way of letting senior management know of problem bosses and major employee issues. Recent layoffs have also been problematic as certain people leaders who were very well thought of by their employees were let go. While it is often preached that talent development is important, and that winning at all costs is discouraged, the recent fallout of the layoffs did not support this policy.