Pros
There are many different groups in IT, so you can learn a variety of things by switching jobs within the company (but if the budget is frozen, you're stuck). Stable job, you're not likely to get fired or laid off. Good benefits. Tuition reimbursement. On-site classes by staff as well as vendors. On-site gym and cafeteria. The tech campus is located in a quiet residential area. Some groups have a laid-back atmosphere, I see people having 6-hour work days and getting away with it. However, there are teams that have strict deadlines and 70-hour work weeks. It really depends on which group you're in.
Cons
I have heard that it is difficult to move up the ladder in the technical direction, so many people go into management to be able to advance their careers. Sometimes policies such as time off and working from home are not clear, things are often done by personal arrangement with the manager. If you are a conservative married middle-aged Southern American, you'll feel right at home at FedEx. If that description does not apply to you, you might have difficulty trying to fit in socially. Again, this depends on your particular team, but if you're unlucky enough to be the opposite of this description, be prepared for the possibility of social isolation and fear of expressing your individuality.