Pros

If you get the right entry, the salary and benefits are pretty good. Also it depends on which team you end up working in. If the team is bad (or bad management) then its a terrible experience otherwise things can work out ok.

Cons

Longtime employees become part of the furniture. On the technical side an over-dependence on contractors to do the work. You need to be visible (even if you do not do any fruitful work), otherwise forget about any career plans.

Advice to Senior Management

Frankly I am supportive of Herb trying to clean house. I think he needs to fire more of this Sr Mgmt and get the company to be much leaner and employees should actually be more accountable. Mgmt needs to address diversity. Its one thng to say Fannie is diverse but to me diversity should be at every level. Why is that at the technical level only Asians are more (i am one too)? There has to be diversity at all levels only then can a company say they understand diversity.