Pros
Work-life balance, a lot of free time
Cons
Terrible ways of working. Everything is so slow, people compete with each other and ignore each others work in the same time. They try to invent a wheel over and over again. You will find little respect and little recognition, especially if you are young or if you are a woman and I suspect many other if's. Lack of management, and management is overall not qualified for such positions, managers are selected internally and usually people apply for management positions for a slightly better salary after being a researcher or engineer and having no interest in managing people. Top-management and employees are in two different worlds, people don't speak up here and don't have a right to be heard. They work here because they have kids, loans, cars and no will to take control of their life. They do patents for every sneeze, they are professional in creating nothing out of nothing. No work and no interesting projects. There are people working here for 20 years and they are completely brain-washed. They can sit and smile when everything is falling apart around them saying "Guys, we are doing great!".