Pros
Stable work environment in the US in terms of job security. There is never a shortage of work. Following several reductions in force over many years and various acquisitions of the company, the people that are left are, on average, very senior people with little chance that they will be let go.
Cons
Most product development job growth is still overseas (where labor is cheaper), despite some, very limited, local hiring in the US. Raises have been lackluster due to current economic conditions. Key senior developers are given quite good bonuses while developers who do not exceed their goals for the year are given small to zero bonus. Raises are similar. HR rarely updates salary bands and generally seems disinterested in the employees it is supposed to view as valuable resources. Employees are forbidden from openly talking about salaries and bonuses, but given their spending behavior, and the timing of yearly bonuses, it is clear that the chosen few are highly rewarded while the many are largely ignored. Even cars in the company parking lot range from the most expensive cars imaginable to the cheapest economy cars imaginable.