Pros
Oracle offers many opportunities to create a diverse skill set, over time. Since job descriptions are very focused and narrow, it does take awhile to spread yourself around and learn. But they are there. Your colleagues genuinely are some of the smartest you will encounter. This is a fine opportunity to develop a wide and diverse network of peers. In general, the compensation packages are good and fair; with a number of obvious outliers thrown amongst. In this environment, you are constantly asked to achieve higher goals, to stretch.
Cons
Because of the environment of heavy hitters, even the most accomplished will find it hard to stand out. Only the truly driven will thrive. It's a big company, and while entrepreneurship is encouraged, it truly is at times maddeningly difficult to have your ideas break through the "big process" mentality. There are a lot of people here who have fallen into the "I'm just a cog" mentality.