Pros
Benefits are good. Mission is important throughout most of the organization. If you are in a position that shields you from the politics you may be happy there.
Cons
Nepotism-if you are the CEOs son you will get a position over someone more qualified. If you are the Senior VP’s nephews best friends wife, you will also get a position created for you and be hired over people more qualified than you. As a manager being forced to hire someone into a fulltime position created for them verses offering it to a part-time person on your team who has earned it. There are many more examples of this. The mission at senior leadership doesn’t apply when you see some of abuses that occur at the level. Work life balance does not exist despite the number of awards they win. They rotate the same few people through the award applications and stretch reality to fit what the award is looking for. Working 60-70 hour weeks are considered the norm.