Pros

Job security has to be THE best reason to work for this company. I would go as far as to say that it's in the top 1% of this country. Unless an employee does something criminal, it is almost impossible for him or her to get fired. The company is nearly 200 years old, and probably will be around for another 200 more. It has been through many large ups and downs in the past 50 years, and there has been no layoff.

Life in New York City is fabulous! You could also take pride in your work for powering the city.

It's also a fantastic place to begin your career as a union technician -- Con Ed has one of the strongest unions in the country, Local 1-2. (So strong that management couldn't take the traditional defined benefit pension away from new employees. And this is when the management themselves don't have it!)

Con Ed's Electric Ops is where the money is. If you could handle many hours of overtime and do occasional shifts, you could realistically expect to earn $100k+ in 6 years (including overtime).

Con Ed invests heavily in employee training and education. It offers a top-notch tuition reimbursement program, and it has its own dedicated training facility (TLC) in Queens.

Con Ed typically start out new college grad at around $60k, depends on your education. Mid $20's for union technicians. If you made supervisor, it meant +20% of annual salary increase until you hit a cap, which is currently at around $90k, depends on the department.

Career advancement is guaranteed, provided you are reasonably intelligent and willing to dedicate yourself to your job. ANY person who fits the above description could realistically expect to make mid-management in 10 to 15 years.

Employee stock discount. 9 to 1 matching.

Paid time off for short-term illness. If you play your cards right.

11 paid holidays.

Cons

Corporate politics and the constant changing priority that very often leads to nothing.

It's a terrible place for engineering grads who want to make a difference as an engineer. A word of advice: forget about being an engineer, the company has no love for you. Operations is what makes this company money, get with the program or find a job else where.

Con Ed is bound by regulations and politics. 30-40% of your working hours are about regulation compliance.
Many(if not most) employees are paralyzed by beauracracy, which ultimately make them unable to care for what they do.

It is a hazardous business. Employees die in manholes and substations every now and then.

The company is obsessed about reportable OSHA injuries and violations but has no interest in employees' well-being in any other aspect.

Some of my coworkers have daily emotional breakdowns, some don't know how to use MS Office. Tons of difficult people to deal with.

ANYONE can make it to mid-management. Yeah, and you thought that could only be a good thing?

Old and depressing offices that constantly made employees feel nothing less than a corporate drone. (Except TLC and Rye.)

HR has no interest in keeping employees happy. It frequently offers below-market salary to new employees. A word of advice: make sure you negotiate before you say yes; HR only knows how to play hardball so be prepared. (Even for union technicians, your hourly rate is negotiable. Typically they offer you just below the mid-point of the pay range of the position.)

Con Ed gives new employees almost no vacation days for the first year. (2 or 3 days if you were lucky!) I find that somewhat abusive.

Corporate culture is old school and lagging; 9/80 schedule is still currently "unthinkable" for this company.

Advice to Senior Management

None. Con Ed is what it is, a large, heavily regulated, institution . I suspect senior management can do little to change it if they wanted to. It is as wonderful as it is hopeless, and will probably stay the same for the next 200 years.