Pros
Good comp and incredibly smart people. Everybody is smart and professional. Very good standards and systems in place - good, structured training early on in a person's career. Very polite culture. Has a legacy of being a meritocracy and sometimes results still matter. Can often be generous with work life balance opportunities - work from home and flex work. At the Director level there are several instances of key leaders working location free (one director lives in New Mexico while her team is in Cincinnati, and another director lives in Connecticut with her business unit in Baltimore).
Cons
Lack of sales growth has resulted in an exclusive focus on cost cutting and productivity. Most managers who are comfortable with risk have self selected themselves out - leaving a mature management generation that is highly risk averse. The functions have gained too much power, and there is often pressure to do "what's right for the function" vs. doing what's right for the business unit. The business is so big that it is often not clear who is accountable to deliver results and many of the VP and above leaders are out of touch with how work get's done. The key requirement for promotion has become cheer leading and stroking management's ego (versus it used to be measurable results).