Pros
Microsoft is generally very good to employees, by fostering an inclusive culture, by providing challenging and engaging work, and by providing access to modern tools and technology to work with. Microsoft has a liberal leave and sick time-off policy, as well as above average (though not great) health-benefits. Finally Microsoft has not swung to far, to fast, back with RTO, but instead taken a measured and thoughtful stance.
Cons
Microsoft reorganizes its workforce frequency, at least twice a year, from my perspective. This can lead to periods of uncertainty and unease leading up to (as rumors swirl) and immediately following these events. Sometimes these reorgs are logical, other times capricious; and with a lack of clear communication it can sometimes be difficult to tell which is which.