Pros
If you're a part of a good team it can be a good job. There is autonomy within most teams, and after a certain point the pay becomes good if you can stick with it long enough.
Cons
Corporate security and HR treat employees like children. The handbook says that good faith actions will not lead to retaliation but this is not the case. And the only way to dispute something from HR is to go through HR (guess what their decision will be?) Re-orgs are frequent, especially when a new outside VP or SVP is hired. It seems almost mandatory that they shake things up, regardless of if they need any shaking. Higher level positions are almost exclusively hired from people outside the company, so upward mobility is limited after a certain point. Many engineers choose to switch from the engineering track to the business track simply for more money. This limits the number of higher level engineers, in fact a few years they refused to create any new high level engineering positions, imagine if they did that to the business track? They seem to constantly insert new engineering titles which makes it harder to climb the ladder also.