Pros
The best reason to work for Infosys is the opportunity of be relocated into onsite locations like US/Europe. Infosys benefits of having a portfolio of some unique clients (this is eroding as clients try to diversify vendor risk). Besides from that, Infosys is long known for no massive layoffs in their 25 years of history. They do have nice campus in India (only). Environment at offshore locations is pretty relaxed, whereas onsite you are basically set with a laptop and a token to work 24/7.
Cons
There seems to be a lack of planning culture (not that they are not good planners), this impacts daily performance of teams. CMMI-People is not leveraged in all IBU's/Projects and its not a priority. Human resources has lots of challenges with an ever-growing company (110k employees as of April 2009), therefore it exists a sense of your position being easily replaced. Given its current maturity as an Enterprise, every day is harder to reach higher career opportunities. Onsite opportunities are defaulted to minimum legal compensation. And the imbalance of benefts is greatly noticed between offshore countries/onsite locations. (i.e. No bonus, no variable pay).