Has been a really great company, but is not as good as it used to be.
Pros
Great, unbeatable benefits covering most types that an employee would want. Plenty of perks - free drinks, great quality cafeterias all over every campus, ... Though there's a feeling of being behind, there's also a strong sense of confidence that MS can once again come from behind to do well and even win.
Cons
Work-life balance was terrible but got much better in recent years. It is beginning to degrade again. Some teams and organizations have it much better than others; some are pretty terrible. Strong feeling around the company of being behind in technology. Building configuration is being changed from separate offices with several common gathering areas to large "open" areas of cubicles and general open areas of gathering amongst the cubicles.