Pros
Good health benefits, large company to gain experience in a cost center or P&L program, flexible schedule to manage work/life balance, but only if you're an individual contributor (managers do not have the same benefits). Great place to start your career, but not an attractive place to retire for Gen X, Y and Milens.
Cons
The culture is very old school. Its a very competitive working environment since you are rated against your peer group. Performance appraisal process is horrible! Someone always has to fall to the bottom, whether they deserve it or not. Merits are small - around 1.5 for med score and 3% for highest ratings. No bonus/Employee Inceptive Program unless you're in a level 6 position (and not all lev 6 offer EIP) If you're a manager don't think about having any work/life balance and its best if your spouse is a stay-at-home parent or works part-time. Telecommuting/working from home isn't an option if you have direct reports. Management is expected to make up any sick time that's taken, and "raise red flags" if they have more sick time than unpaid overtime to compensate for it. Low employee moral.