Pros
The company is large, so there are a lot of career development opportunities. The benefits package is incredible; in shopping around, I have yet to find such a generous retirement plan and I have a choice of 5 different health insurance plans. The amount of paid time off when you hit five years equates to over six weeks fully paid, so that is pretty generous as well (you start with 4 weeks and you are eligible after 30 days). The company itself is stable and has a good reputation for strength in the financial services industry.
Cons
One downside (for me) is that not as much emphasis is placed on educational attainment; it never hurts in securing a promotion, but there are people who obtain positions fairly high up in the hierarchy without a college degree, let alone graduate education. Now that works as an advantage for some, and kind of makes sense since advancement is performance-based. However, some people are placed in positions because of performance, but may not have developed the critical thinking skills or well-roundedness that is often developed via formal education.