Pros
Work culture - collaborative environment without rat race. Well paid with no expectations to stay long hours. It's possible to work here 10-20 years. Company strategy is to promote from within so they try to keep retention very low.
Cons
It is not easy to quit. I.e. you start as a youngster, hired while you have little experience, then you spend first few years growing, your salary increases in a bit addictive pace, you (rightly) extrapolate your pay to next few years when comparing with jobs outside and you find yourself still in the company after 5 years. You get used to friendly environment, and accept getting detached from the outside world. After 10 years you're still around with very little self confidence that your experience is worth a lot in external world, you feel overpaid, in a golden cage. Net -- beware to not stay around too long (unless you have ambitions to get high in the hierarchy).