Pros

The brand, the smart people, and the non existence of nonsence like racism and sexism at an institutional level.

Cons

There is way too much process, to the point that it stifles creativity, strategic thinking, and overall job satisfaction. Overall, IBM seems like a place where the nonperformers are weeded out, but the top people are held back with over-process, inequity in compensation and recognition, and overall BS from management (2nd line and above). It seems like a place for the good to perhaps very good, but not for those who can really think creatively, strategize, take and give constructive feedback, and lead.

The annual reviews are supposed to be 360 degree evaluations, but like most overly engineered things, they are ineffective. They just make it easier for management to use easy metrics to evaluate people, but don't take into account the difficulty of projects, the political issues involved, the how much the employee could actually control. So, people who work on easy projects where they control everything can show business impact and be promoted, but those who really work on the tough stuff are "shafted."

But the really bad part is this: I would love to stay at IBM and build a career because the company is involved in some really interesting businesses, has smart people, and does make a positive impact to the world. Yet, in spite of this, I will likely leave at some point because I look around and see people who are in higher bands, making more money than me, when they aren't half as effective. What makes it worse is that management knows this, acknowledges it, but when it comes time to doing something about it, finds more hoops for me to jump through (not sure if 1st line managers have much say here, but the 2nd line and beyond seem to be out to lunch). It sees that by the time my second line manager recognizes me, we'll get another second liner, and the whole peocess will repeat itself.

So, while it will be a sad day for me when it happens, I will likely leave at some point to ideally go to a place where I don't have to kiss 5 people's asses every time I have a good idea, and where I will be paid top dollar for being a top contributor (at least the latter). So, when the economy turns, I will likely be another top employee who is forced into leaving this company because the management is out of touch with reality... For smart people, they are really clueless, and prefer to let really effective employees go rather than paying them competitively.

Advice to Senior Management

If you actually care about the employees, and not just your paychecks, or how much you can grow earnings, then you need to wake up. IBM is doing great right now because it's strategically position in this economy. But long term, you will have plenty of great people jumping ship once this economy improves because you are ineffective in creating programs that reward top performers... Top performers aren't those that get the PBCs, because the PBCs are ineffective. Top performers are the ones who succeed in difficult situations, who build relationships that lead to success, who can lead people toward a goal, and whose clients say that they are effective... not those who know how to kiss ass or are under a manager who has political clout.