Pros
Oracle is a big name. It is a respected brand name in the tech sector. Because it covers so many vertical and horizontal solutions, working at Oracle will enhance your resume. It is a good stepping stone to launch a career. There are so many organizations and people within the company that you will find excellent people to learn from. But, finding these key people is difficult as there are a lot of 'fat' in the company that do nothing productive. Working at Oracle also makes you become politically savvy as this is the single most important thing to get ahead at Oracle.
Cons
The quality and leadership skill of most middle management is very poor. It really frustrates me to see these bozos in the position that is well over their heads. As mentioned before, they are a savvy political players though. They know who to kiss up and who to attach themselves to. Middle managers really don't know how to 'manage', develop and coach employees. Consequently, career growth at Oracle is not based on merit. If you are the smartest person who comes up with the greatest ideas, but are not politically savvy and know how to 'market' your talent, you are not moving up. Period. In fact, if you come across as threatening (aka, too smart for the middle managers), you will get buried in a hole.