Pros
The environment is engaging and collaborative. The spatial industry is filled with interesting people and projects. There are numerous opportunities to become engaged in interesting projects though internal competition can be a bit cut-throat. The ability to daily interact and trial new applications and software as well as stay in touch with others whom have the same interest is very beneficial. The working environment is quite flexible though it seems to be focused on younger talent and the veterens are few and far between. Overall, as a recent graduate, I would highly recommend getting started at ESRI. The environment is challanging as well as rewarding.
Cons
While ESRI, as well as many organizations, strive to create a seamless and virtual project team structure, remote staff often do not have the same opportunities for advancement. While the industry is changing and GIS is becoming more mainstream due to products such as google maps and virtual earth, the impact has made ESRI much more business focused than in earlier years. While ESRI is a 'business' with much of the operating revenue coming due to software sales, the implementation of projects can be quite challanging and trying. In order to compete for projects, often the most risky ones are selected and as a result, high risk can often result in public failure.