Pros
Depending on your manager, you can work from home whenever you want. They are very flexible on how you do your work as long as you get it done. Outside of the company, the SAP brand is respected. Free lunch in the Palo Alto location is a big plus. Their catering company, Bon Appetit, puts a big emphasis on fresh and organic food.
Cons
SAP is like working in a retirement home. A lot of lifers, a lot of people not wanting to leave their positions, and a lack of fresh and creative people. The CEO keeps talking about all the millenials he wants to bring in. All of my friends who are millenials were either laid off, moved into a short term contracted, or vastly underpaid. SAP people love to throw the word "junior" around and use it as a bad word to scorn anyone under 35. The company is super traditional, male, white, and top down style management. Unless you are a White or Asian man who can play hardball politics, you won't move up in this stale company.