Pros
Security (for now). Though there seems to be movement to outsource IS functions. If you are performer chances are you will be trusted and left alone.
Cons
Bureacracy which is found in larger organizations. Too much rah rah and emphasis on stock ownership which should be a personal choice. Promotions not always fair. I was passed over for promotion even though I had more experience and education than the person promoted. That person was good friends with the promoting manager. So they like to talk the line that they are fair, in actuality they are no different from other firms. IS has too many people and I can see more downsizing.. they do not call it layoffs. But it has happened in IS. Its called elimination of a functional area and people have to find jobs elsewhere or take a package which is never that great.