Pros
You may have a good starting salary if you negotiate well. You'd better have some experience under your belt and if you meet the job criteria you will almost be placed to a position in accordance with your age/years of earlier experience. Good place to just have that job until you retire. Nobody will fire you. Flexibility in taking vacations.
Cons
No job raises. For years, or way lower than inflation. No work at home policy in support anymore. Personal growth is not an important factor for trainings selection. Selected trainings have to be useful to the current role. Many politics. There is many times a big difference between what is said by management and what it is done. They don't walk and talk. Weak leadership, at lease on the lower levels of management. Constantly solving issues just to get to see another day. Lack real vision. Everyone is striving to manage to really reach customer expectations and engage in collaborative efforts to meet the deadlines and to put our customers first. Truth: many words with no real meaning. Engineers have quite large workloads and many are complaining, but this situation is in accordance with the company policy, judging by the lack of headcount increase in the teams where workload has been a challenge for quite a while.