Pros
One of the few places where most of the work cannot be outsourced overseas. Managers that have been so poorly promoted that they have no idea what their employees do, so you could do nothing all day and they'd never know the difference.
Cons
Incompetent Senior and Middle management. Little or no communications. Nobody willing to take risks or present original ideas. Retaliation for trying to go above and beyond your job duties. An employee rating system that does not recognize exemplary work and classifies the work as just average. Management that looks out for themselves before the people that work for them. People that lie and misrepresent themselves to look good to "The Man". Promotions that are given because it looks good in the press rather than promoting people that can do the job and lead subordinates.