Pros
Top notch work life balance in my line of work (IT development). I'm work at home employee since I joined IBM. People around me and in other department that I deal with are very professional. I rarely see inter office politics. I never saw intimidation, negativity towards other people etc. 1st and 2nd line managers are always straight forward with us. The company is genuinely interested in diversity. I have very decent market rate pay package. Lots of learning opportunity if you are interested. Since IBM owns numerous software development tools, they are at your disposal, free to use to further your knowledge and career.
Cons
In US locations, I see new project opportunity to on is drying up. There is lot of administrative work involved in my job as software developer and technical lead. There is more operational work then new development opportunity due to cut backs and off shoring.