Pros
Based on my two years as a manager at the company: First, you get to work on problems that impact a huge number of customers, so scale and reliability are important things that are embedded in everything you do. Second, you need to make sure the customers do not get impacted and retain their trust while trying to deliver faster with fewer resources. Third, the customer goes first on top of everything else. Four, I personally love how embedded leadership principles are in the culture of the company, they are used across to drive consensus that otherwise would require incurring in bunch of politics. Five, things move surprisingly fast for such a big company. In Summary you will have challenging work, very smart people to work with in the technical areas and you get to solve complex problems that can impact multiple customers across the world.
Cons
First, in general managers do not know anything about actual people's management, most of them used to be engineers and mainly focus on driving tecnical decisions but do little or nothing to develop talent across the company. Second, I find the practice of stack ranking employees an awful one. As an engineer, if you get a crappy manager you are pretty much screw. Even though things seem to be going in the right direction, people still uses the review process as an opportunity to throw people under the bus, providing little or no feedback throughout the year. Third, you have to do a bunch of useless documentation that doesn't go anywhere, as a manager you spend countless on hours doing OP1/Op2 planning but when you actually have to execute the plan things tend to change significantly, so you can't avoid feeling that those months were a total waste of time. Finally, frugality sometimes tend to become cheapness more than anything else, no perks, crappy 401k, common Amazon can do better.