Pros
Speaking from a "back-office" (IT) perspective... If you're able to let a job just be a job, the pay is good. That is, you put in your 40 hours Monday to Friday, do what's asked in a reasonable amount of time, and get well compensated. Some departments offer workplace mobility or facilitate work-from-home (including all Fridays for those working in the Brooklyn offices). Good standard benefits (medical, dental, vision, etc). Vestiges of a once-great technology division abound, which is nice. The infrastructure is looking crusty in some places (with 10+ year-old parts), but still quite impressive. The internal mailing lists aren't bad either.
Cons
It used to be one of the premiere investment banks on Wall Street. Now, thanks to profligate endeavors of the past few years, we've had disastrous results. This reflects badly on us as a firm and brand. Talented individuals depart, feeling the shift away from the massive FIRE (financial, insurance, and real estate) industry, heading to smaller firms, hedge funds, technology companies, and academia.