Pros
The benefits are excellent. There are not many companies where you get 17% of your annual salary put into your 401K when you contribute 7% pretax. The culture is excellent. Everyone in the org chart is extremely easy to approach and is called by their first name. There is an implied understanding that if work needs to get done it gets done. Lots of overachievers in the company.
Cons
The red tape associated with any large company can get in the way of progress. Six sigma efficiencies are being applied to practices where the human element is a major factor in decision making. The corporate culture that made Fidelity great is being shredded apart by huge veils of secrecy with the new leadership. While Ned Johnson is still the chairman of the board a lot of the decision making is being done by the new president.