Pros

Google has a bunch of smart people. Also, there is a strong culture from old-timers to question the status quo and make this drastically better. It's also great pedigree for a resume. Pay is pretty good compared to other companies, the perks too. The shuttle service is great if you live in SF.

Cons

very arrogant culture. Old-timers may have a sense of entitlement. Not much growth potential anymore unless you are politically connected with stars. Too many cooks in the kitchen. Too bottoms up, makes cross-team work potentially frustrating. Many remote offices are weak. If you work with a remote team, get ready for a bunch of "C" players with poor cultural fit.

Advice to Senior Management

Thin the ranks of management. Have stronger goals across teams (try reading lencioni's silos, politics and turf wars.) Be careful to reward those who work on thankless jobs and not just the Latitudes and other sexy launches. Reward quality over launching crap (several eng dirs are terrible about this.)