Pros
Googlers are charismatic Middle management is awesome Failures aren't individually blamed, usually seen as a problem with a system - not an individual Compensation is great Food is amazing TGIF is where it's at, Larry and Sergey are hilarious and the transparent info you get is awesome.
Cons
It's hard to learn the ropes: you're given a long leash and plenty of benefit of the doubt (if you screw something up) but there is sooo much to learn and the formal training isn't all that extensive (though, the training sessions are great). Being able to thrive in ambiguity is a must. You're expected to be autonomous, which is great, but it's tough to learn the ropes and when you're new, you want to perform well and make an impact. It's hard to do that at first. It's good to trust your management and team and do what you can. Have self confidence in your value and go find a way to contribute - even if it seems small or under the radar.