Pros
Colgate is a very efficiently and well-managed, very stable company. There are lots of opportunities to grow and stay with the company for a long time if you so choose to. The benefits are above average, not as good as some other companies but definitely competitive and more than sufficient for most people. The people are smart and quite capable. If you absolutely need to work in NYC then location is ideal. If you are doing relatively well then international assignments are a big possibility. It's a good place to come in as an early hire as it is a family environment for those who fit into the culture, and for these people you can develop your career there as a lifer.
Cons
Colgate in general is very stiff and bureaucratic and extremely hierarchical, especially if you work in the NYC office. There are too many layers of management, especially in Marketing which is the decision-making function in the company. Colgate is also very formal environment where you need to wear suits every day, which creates a lot of good "corporate soldiers" and people unwilling to push the status quo or play beyond the party line. Senior management can be very into the details and there too many demands on employees to analyze everything to the minutest details. Also, there is general lack of risk-taking or letting employees make decisions, for marketing people it is not an entrepreneurial environment at all. It is very difficult for people who did not grow up in the culture to integrate, and there are some employees that really should be let go due to performance issues or inability to manage others who continue to stay in the organization.