Microsoft has great benefits package, great profit sharing bonus, great insurance, great compensation, stock. etc, for Full Time Employees.
There are no perks if you are contract. Period. You can pay for crappy insurance via their recruitment companies, but that's about it. You do get about 4.6 hrs of PTO every month, so if you work for about 12 months you can have a week's worth of paid time off......
Fantastic benefits - especially by game industry standards. Total compensation is great, really good retirement benefits including options and company matching (match 50% of employee contribution up to $9,000/year now), good health insurance, annual bonuses, 3 weeks paid vacation to start (add another week after 6/12 years), 12 company holidays, stock options, employee stock purchase plan, discounts or freebies on Microsoft hardware/software, incredibly generous maternity/paternity benefits (3-6 months paid leave), reimbursement for continuing education, very generous charitable matching - could go on and on here. Overall - benefits package is top notch.
Best Health, Vision, Dental and 401k I have ever seen. They even give you $800 "personal fitness" money to spend however you want (gym, personal trainer, rock climbing, crossfit, etc) A wonderful benefits package.
List based on reports from current and former employees. It may not be complete.