Pros
The pay is good, as are benefits. Growth opportunities are provided, and can enable a person to work in multiple different departments during a career with the company. Employees are encouraged to develop themselves, both technically and as regards management ability. Bonus program has paid well the last few years, even in a down economy.
Cons
Corporate culture is always a challenge, navigating the politics. Overtime is expected to be worked without compensation, though some managers make efforts to provide balancing time off for their people. There is no clear promotion path for many positions, and this encourages employees to move and take new a new job in a different department in order to advance. Bonus distribution is not as objective as I would like, and requires immediate management to negotiate the money for their direct reports.