Pros
I am into software designing and development. I have been working for close to an year. I found the work culture to be pretty decent. My reporting in India is for namesake only. My managers in India take care of only appraisals, approvals. For deliveries, I am only responsible to US managers. Taking leaves and other benefits are quite decent when compared with Indian competitors and not the best in the Industry. Great place for women and for someone looking for a work-life balance.
Cons
If you are a workoholic, this isn't your place. They have a pay system which equates you with the market leader and your peers in the company without taking note of whether you are into support, delivery or designing which I have found to be a bit disappointing. I also feel a bit skeptical about the appraisal model as the people responsible for appraising you aren't the ones who really know what all you have been doing so far! Lastly, not truly a MNC as I found the project managers to be driven by a regional bias in their day to day work. Even the AVP, VP and SVPs can be found in cubicles resorting to regional language which shouldn't have been the case.