Pros
Experience, clout and a sense of superiority is what you will get from P&G. Your contributions will be minimal for the first three years of employment, until you are trusted to handle budgets, initiatives or speaking in a cross-functional conference. They have a strong sense of culture and you will, eventually, be trusted to bring ideas to market.
Cons
Depending on where you are, the culture feels forced. I would work on teams where no one said good morning or goodbye. I would spend my day with headphones on, just to drown out the silence. You had better be good at playing politics because that will be 50% of your job responsibility. I've stroked more egos than a masseuse. Prepare yourself for slow, protracted advancement. They do not care about talent retention. You will one day realize that the totality of your effort culminates in someone purchasing another bottle of Tide. You are optimizing consumption.