Pros
Perks. Free food and other facilities. You'll work on something that is used by millions of people. Opportunity to work with some of the best people in country.
Cons
As it has grown big, Google has become miserably stagnant when it comes to giving proper recognition to employees, during perf-cycles and promotion. They manage to suck the top brains from fresh college grads (from IITs, IISc) at a low package and yet quoting an attractive package which differs from CTC by at least 12000$ (yearly). Needless to say, these include the cost of "perks" shown at a exaggerated rate and some components which are never realized. Whereas in off-campus recruitment they make reasonably good offer (often more than double, triple the amount offered to college hires of same level) to get a candidate, even if it maybe for test-engineer position. Work is often monotonous, and rarely helps to your career growth. Even after working for years on so-called "cool" products, but that hardly sells outside google. And if you think you're going to spend your entire career in Google until retirement, it's going to be a sure-shot peril to your technical career. So, ret rid of the pride of working in the "best company" and look for a better career for yourself.