Pros
I'd like to start by saying that PepsiCo is a great company to learn a lot very quickly. The company is very fast paced and you will be given a lot of opportunity to demonstrate value early on. Additionally, most people who you interact with will generally be friendly (albeit drowning in work and very busy).
Cons
The work life balance can be very poor depending on team (and if anyone else has exited the organization recently). If there are unfilled roles, you can expect to be pulling the weight of not only your job but multiple other jobs at the same time. (This had happened to me when I did not have a direct manager and a few partners on the team also left the organization at the same time). Additionally, the organization has an "over alignment" culture which leads to hours of meetings, emails, and can slow initiatives progress. While it is great to have stakeholder feedback, there are some leaders that feel entitled to weigh in on anything and everything even if it is completely unrelated to their area.