Pros
BMC tends to hire really talented people, and I have worked on some interesting projects over the years. Strong customer emphasis. BMC has had a strong commitment to delivering quality software and providing excellent service to the customer, and this has made it nice as an employee to not be constantly apologizing to customers for a lack of these items.
Cons
BMC has been cutting back on staff for 5 to 10 years now, so it gets harder and harder to keep up with new development, maintenance, and support. Raises and promotions are few and far between. Management shuffles make it like starting over at a new job every year or so. They never survey workers about manager effectiveness, so mediocre managers hang around forever and just move around. Still can't tell if going private in late 2013 was a good or bad thing for company and employees (I am sure those at top took care of themselves).