Pros
Job security, vacation and healthcare benefits. Global company with many locations and opportunities to move around. Assuming you have a good manager, there are always opportunities to grow your responsibility and learn new things.
Cons
Long and uber political process to promotion above the band 2 manager level, especially now that the company isn’t growing. Promotion opportunities are shrinking and leadership is not transparent at all about it, making you think you just need to do the “one extra thing” to set you apart. Great, but it’s still around 15 yrs to a section head/b3 promotion. Also, in engineering most “managers” (salaried employees) don’t manage people until they reach the b3 level and then many are not a therefore terrible at it.