Pros

Great discount, especially during associate double discount events throughout the year (be prepared to just give them back your paycheck, sometimes the sales are so good you just can't resist)
Beautiful merchandise; a great place to be around high fashion.
Does a lot of great work for charities locally and nationally.
One of the best places to get experience in the retail industry, because honestly, retail is retail, you're going to deal with some of the same crap wherever you go, you might as well be in one of the most high end places there is.

Cons

Horrible commission structure (Draw= you must sell enough to basically pay yourself back, or else you're in arrears and must sell even more the next week.). Needs to be reevaluated so customer returns don't count against you as much.
The commission structure also causes catty arguments over sales, not constructive competition, between coworkers.
Sometimes feels like the hard work you do isn't valued/recognized.
Different departments are treated differently/unfairly.
Not much opportunity for growth, too many managers are hired from the outside rather than giving people inside a chance and hiring from within.

Advice to Senior Management

The Golden Rule: Treat others how you would want to be treated....Would you want to work every single Saturday for 2 months straight and have no time with your friends/family? Wouldn't you want to be able to use your vacation time and personal days however you want (within reason) not how your manager sees best? Wouldn't you want to keep at least some of the commission you earned while spending a lot of time helping a client even though when she got home she changed her mind/her husband didn't like it/etc. and decided to return it? Wouldn't you want to know your upcoming schedule more than two days beforehand?