Pros

Super medical benefits
Chance to move to different group after a couple of years. If you work in Redmond this benefit is very very attractive.
Lot of smart people
You will get your own private office room (you need to wait 1-3 years sometimes). I was lucky to my own office after 6 months and having that privacy was great for focus.

Cons

Bad manager can ruin you. In my case, my manager in the second group was over-demanding and it made life difficult.
Bureaucracy can be a damper, depending on your group.

Advice to Senior Management

Move fast and be bold like Google. Come up with inspired products like Apple.