Pros
Abbott Labs has above average benefits including medical, dental, vision, and flex spending. They offer a pension plan and 401(k) retirement plan plus company matching with no vesting period. From the 1st day of employment, all vacation days (prorated, up to 3 weeks) for that year will be given, instead of having to slowly accrue them. Additional to the compensation are the annual profit sharing and an incentive plan for the technical/upper level folks. Stock options are given for upper level folks. If relocation is required for a current employee, the relocation department takes care of all aspects of the move. There is a corporate tuition reimbursement program for relevant coursework leading to a degree/certificate, provided that a minimum grade is achieved. Most departments have enough money in the budge to send employees to various training classes. With many divisions, it is easy to transfer across departments and gain a wide array of knowledge across its many businesses.
Cons
From my experience, managers were more interested in project goals and deadlines than the career development of their subordinates. Inspirational and sharp general managers are rare. Each division and site operate as its own company, so the company culture can be varied throughout. Typical salary is only average, and annual merit increases average 2-3%. Those percentages are set by corporate and sometimes may not take into account the typical merit increase of the local market. If hired at the low end of the pay scale, it is difficult to justify a raise to be equitably paid compared to others within the company.