Pros
From the top down the company promotes and supports ethical decisions and actions. High ethics can be hard to find in the oil industry. It may sound cheesy but the entire value system is very highly regarded if your personal values match the company values you will find it easier to navigate the company politics. Another pro is that there is a major generation change happening right now with lots of retirements across the company. That means lots of opportunities for upward mobility. If you show early on that you are a hard worker who is also committed to Chevron values (the Chevron Way), delivers high quality work and enjoys being part of a team you will get noticed and put on a fast track for promotions or at least good raises. For those that may not have the need to continually move up the ladder there are many technical jobs available that encourage good quality work but without the need to move around or always increase rank. Many opportunities for travel and high support for continued education in your field.
Cons
For an ambitious Gen X or Y employee it can be tough dealing with the old guard and good ole boys network in the south. Not so bad if you work in CA or get placed out of the US. Very caucasian company in the US that can get a little lonely for people of color. The leadership says the right things and I think they really do believe in diversity. But I think someone forgot to tell middle management what they should be doing and why. Salary is ok but depending on your location the cost of living could eat it up very quick. Across the board there is a big disconnect between executive leaders-middle managers-front line employees.