Pros
American Express is a very nice place to work (in the traditional meaning of "nice"). It is very comfortable and low stress, and the pressure placed on you, except in a few key roles, will be almost non-existent. This is fantastic for work-life balance. Management truly supports flexible working options, and it is easy to schedule your career around your life. The top company leadership (Ken Chenault and his direct reports) is full of good people with good intentions. They genuinely care about the people who are in their care and try to do right by them. American Express offers tremendous opportunity for advancement to anybody who is bright and ambitious. It is easy to succeed. Go-getters are uncommon, so they really stand out and are rewarded accordingly.
Cons
The company suffers from having a workforce that is unambitious and complacent, more interested in job security than quality or delivery. Compensation and material benefits (medical care, insurance) are below par compared to other industries. The company has absolutely no long-term strategy, and is very focused on tactical projects and execution of short-term programs. This has resulted in a number of disastrous investments in the past few years. NicThe level of leadership immediately below the CEO and the Presidents (the SVP level) is weak and extremely political. They don't get along with each other, and are quite petty and destructive with their own teams.