Pros
Stable company with decent benefits.
Cons
I've been with Cisco well over 10 years and have seen the environment get worse and worse. Many of the comments here are flat out WRONG if you are in development (at least in my group). Cisco is rolling out Agile, but in a non-sensical manner. Worst of all, they have manipulated / misrepresented this Agile adoption to the rest of the company. As a result, this dysfunctional version of Agile is being adopted in other groups as well. - Work/life balance is paid lip service, but is NOT a priority. The Agile construct gives them an excuse to try and get people to work extra hours on a consistent basis. - Work from home is not encouraged in my group, nor even allowed for most people. This seems strange coming from Cisco that creates infrastructure encouraging such an environment. Note again, this is a by-product of the dysfunctional Agile, and does not apply to all groups. - Compensation is mediocre at best, though as mentioned, at least you don't worry about your paycheck bouncing. - Cisco has mandatory PTO over the holidays every year. So while on paper, you get 4 weeks PTO, in reality you lose nearly a full week to the mandatory shutdown. This is one of the cheesiest moves I've seen a company make. In a nutshell, if you are applying for a position at Cisco, and they tell you they are Agile... Just walk away.