Pros
Great perks, such as a well stocked kitchen, food and beer brought in for events, coffee cart, company parties, gym membership for FTE employees, etc. Surrounded by very talented, intelligent, and passionate people.
Cons
Bungie is a great place to be as a salaried employee, but not as great if you are an hourly employee. Even though both are FTE positions (though there are certainly some contract, hourly employees on site as well), the benefits are different. For example, salaried FTE employees get a parking space and 10 floating holidays to be used between October and February. Hourly FTE employees only get 5 floating holidays (and no parking, taking the bus is the only option). Bungie can feel like a prison for an hourly employee, as you are not allowed to leave the building without clocking out (even mandatory 10 minute breaks cannot be taken outside). If you have a mandatory team lunch, you still have to clock out and miss an excessive amount of time that will have to be made up somewhere else during the week. If you have a phone call longer than 10 minutes, you have to clock out. There is also zero flexibility, so all of your hours must be done onsite (there's no ability to work from home, even if that would be completely reasonable in your particular position at most other companies). All of these things make Bungie a very difficult place to be if you are a parent. It is nearly impossible to find the time to take care of your family and get all of your time in at the office due to Bungie's extreme treatment of hourly employee's time. I imagine it is a bit easier as a salaried employee though.