Pros
First of all, the salary package they offered me as an intern was above my expectations. The project I worked on had a very small-company feel, partly since we were working on a pre-1.0 product (which was very cool), and also because my manager did an excellent job of keeping the distractions from senior management to a minimum. All of my colleagues were willing to either help me when I got stuck or aim me at the right person to ask -- there was no "I'm too busy to help you" mentality there. Also, VMware has a "use as much time off as you need" policy. As long as you're getting your work done and clear it with your manager, you can take as much vacation as you want.
Cons
With the Dell acquisition of EMC there is some uncertainty of how that will affect VMware. However, the message from management is that things will continue "business as usual".