Pros
Huge variety of projects, wonderful people, brilliant minds, awesome perks, fairly easy to move from project to project, real room for independent initiative (management rarely blocks new ideas and rarely interferes with decision making), stock options and shares very valuable. If you're looking to be immersed in the internet world, become involved with really (really) big business, and see how huge scale matters and how it is handled and developed, there's hardly a better place for this than Google. Free lunch and free transportation are more than just nifty perks. They make people's lives really easy and support a work environment that's very productive without being oppressive. Nobody is required to work long hours, but a lot of people just do.
Cons
It *is* a big company now so prospects for huge monetary windfalls are less substantial than at a great start-up. Promotion competition is stiff in some areas, but working with great people always has that downside.
