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I have been working at Oracle full-time (More than a year)
It's a big company, and it varies quite a bit by job/org, but... - Great work environment, with lots of good people who are working hard. It's a good place to learn about the industry and your job role. - Good benefits (insurance, 401(k), etc., are all fine). - Lots of flexibility. Working from home is limited, but pretty common. Managers (mine in particular) don't micromanage.
- Pay is flat out not competitive for most jobs. That's the reason why 50% of college graduate hires are gone after 18 months. Raises are tiny and not guaranteed. If you want to excel, go somewhere else. - Onboarding process is a joke. Most jobs have no training, because no one is in charge of training. - Along those lines, if it isn't assigned to someone, it doesn't get done. Oracle is like the former USSR--centrally planned, with only a chosen few making decisions, and endless bureacracy for everyone else. It is the opposite of an empowering culture.
Advice to Management
I get that the choice to pay people below market wages is deliberate. But your calculations are wrong--you're wasting money by having to replace people over and over. The longer people go with below market salaries, the more likely above average talent is to leave. After a few years, the only people who are sure to still be there are the dead weight.