Pros
Awesome benefits. Great work-life balance. Great straight-outta-college job. Beautiful Redmond campus with tons of great activities for 20 and 30 somethings.
Cons
Gotta play to get paid. Self-promotion is a constant necessity along with the ear of your skip-manager (your actual manager has no power to grant you rewards). Annual "Connect"s are only as good as your skip's willingness to read feedback. Glowing reviews can be sent straight to the Recycle Bin because it was "too time consuming" to read them all. Dogmatic adherence to the Microsoft ecosystem. Wanna write something in Python? Forget it. Switch teams (and company while your at it). Have a great OSS resource you'd like to pull into a project? Good luck getting through LCA approval. Butthurt is all around when someone calls a MS baby ugly.