Pros
Best work-life balance I've ever had. Love being able to work remote the majority of the time. A lot of fantastic people, though I'm sure that depends on what you do and the team you work with as it does anywhere. 1:1 401k match up to 5%.
Cons
Healthcare benefits continue to get worse and cost more. WAY too many layers of management. Lack of ability to cross-train. No T&E budget unless you're a manager. Dell pays below market rate, significantly. They also don't believe in raises, so don't expect to see more than 1% ever. If you don't come in at a high salary, it's incredibly likely you'll never achieve one. Most people that like the work-life balance leave for 3-4 years and then come back in at a much higher salary level. Dell also has a VERY large presence in India -- approximately 30,000 employees. There is a very large difference in cultures, and often times that ends up in the same consistent conflicts occurring over and over again between US based solution teams and the development teams in India that do some of the work. The 800 lb. gorilla -- the EMC acquisition. Dell is taking on ~$50 BILLION in debt to finance this deal. It doesn't take a rocket scientist to figure out that this means the rank and file will continue to suffer while executives make out like bandits as evidenced by the $10M in "special" bonuses paid to four executives on top of their already $500k+ normal bonuses this year, while the rest of the company only received 75% of their bonus modifier. If you're part of the "in" crowd, you're safe and taken care of. Dell is still very political and it doesn't look like that will change, ever. While I expect this to a degree at most places, it's particularly bad at Dell.