Pros
They pay everyone very well. So well that if you leave Exxon for a similar position you'll take a massive paycut. It's a retention tactic. Provides $20,000 annually in continuing education assistance. One of the few companies that still have a pension on top of 401k.
Cons
They use "rank and yank" reviews. It can be unfair in many ways based on not being told how you measure up against coworkers. Also, your manager goes in to a closed meeting with managers of similar groups to rate you further. Having a soft spoken manager is no doubt a negative. This system was developed by GE who stopped using it. Promotions and internal openings aren't advertised in any way shape for form. Most of the time you find about an opening after it has been filled. There is no chance to be analyzed for an open position. Salary is determined by some computer program that is run by HR and the vast majority of the company, including management, don't know exactly how it works. Due to this crazy type system it is not unusual for mangers to make less than those who report to them.