Pros
Had to add my own thoughts after seeing so many concerns about work-life balance at Google. I joined Google about a year ago after many years in mid-tier management consulting. For me, it's been a refreshing return to work-life balance. No, that doesn't mean I work 35 hr weeks. I'm often at Google before 7am and sometimes stay past 7pm. I work hard because I want to be the best in my profession, because I believe I should earn all those perks Google is famous for, and because my team, who want to be the best in their professions, are relying on me. That said, I've never worked into the wee hours of the morning. Every Saturday and Sunday you'll find me outside running or biking, not in the office. I have a wonderful marriage, get 8 hrs sleep every night and am fortunate to be leaving a happy life. In contrast, my consulting career was full of 70 hr workweeks, travel away from my family, unbelievable levels of stress and piles of politics. Maybe Google is also like this at the VP and SVP level, I'm not sure. But I'm about half way up the so-called corporate ladder and, at least from my perspective, things are refreshingly balanced and authentic. Again, I'm only 1 year in so take my thoughts with a pinch of salt. The other myth I'd like to debunk (actually, it appears to already be long-before debunked) is that only ivy-grads can get into Google. From what I've heard, this was more true 10 years ago. But, I attended a small undergrad school you've probably never heard of and haven't been back to school since. I think what Google is looking for is the same as any company: people with honest passion for their trade, who don't mind putting in some elbow grease to keep the company growing.
Cons
Let's be honest: Google spoils it's employees. We're all fortunate to work here. The thing I worry about most is whether I'm making a real difference. Google has such a legacy, and such infinite resources, that it can be a little overwhelming trying to figure out if you're taking full advantage of the opportunity. For example, I'm guessing that the job posting that started my career here had maybe 100 other applicants. That's 100 people who could have done a better job if I feel like "taking it easy" today. I worry about doing well enough here to continue he legacy built before me.