Pros
Looks great on your resume. Lots of perks (if that's what moves you). Interesting story to tell your friends.
Cons
If you're a manager, this place will drive you nuts. Employees are snarky, entitled, and disrespectful brats. They have no concept of critical thinking or any desire to do real work. Unlimited sick days in the hands of overpaid children is impossible to manage, my team would somehow always manage to catch a "cold" on Fridays and Mondays. (Interesting that they would Tweet and post about their weekend party binges though.) While Facebook does a great job recruiting Ivy League talent, I was underwhelmed by the level of intelligence of "Facebookers." They are so busy congratulating themselves on being "awesome" that they never stop to consider they didn't have any real world work experience to back that assertion up. It's really hard to manage and lead people who "know it all." Kitchy inspirational posters everywhere you look. "Be Bold!" "Dare Greatly!" Yet, I didn't see any substantive work or product coming out of anyone, which makes sense since Facebook really is just a glorified website - users are the product. Communication is an absolute nightmare. You are forced to "friend" everyone you work with and join an incessant amount of internal group pages where you had to filter through all the BS people would post (memes, YouTube videos, snarky hipster comments…clearly these people didn't have enough work to do) to get to any relevant work related information you needed to know for your job. I actually thought I was going to get dumber working there. Meetings - the sheer volume was mind bending. None of them critical to doing actual work, more self congratulating on unearned awesomeness. Being social at Facebook was far more important than doing anything meaningful while you were there. Anyone serious about doing meaningful work need not apply. You'll make it a few months and then quit out of frustration.