Pros
I think you can end up making a few good friends at Altera. Also they seem to pay well.
Cons
1) They have no real work anymore. If you come here expecting to learn something, rest assured you will plateau in only 4 months and will be stuck with making presentation slides, debugging 30 years of horrible code, and spending 50% of your day in unnecessary and useless meetings. 2) Very unhelpful staff: Since they know they have no work, any employee who has done something significant in the past will guard that accomplishment with his life, and will never divulge the inner workings to anyone. They are all afraid of being laid off and are all stuck to their comfort zone. I have heard "I don't know the answer" more times than I cared to count, only to find that same person giving the answer out in a formal meeting. They show no willingness to show a new employee the ropes or to answer their questions. 3) Horrible management: Irrespective of department, management always wants to cut corners and give the minimum possible functionality that a customer would like. They do not entertain their employees' willingness to think out of the box and add value to the software. They simply go "I don't think the customer will need any more than that, just code it up and lets move on". They have a broken testing infrastructure, which is why their software is extremely buggy and customers always come back with tons of complaints. Most of these complaints go unresolved. The only people that will defend this company are people who were there during the days of its inception, when there actually was some real work to do. New employees: avoid Altera like the Plague !