Pros
If there's one thing I respect in my group, it's the management. Up-front communication, very supportive of employees. I feel that I am a respected professional - a coworker/colleague of management, more than an employee. They just have a different focus, different priorities, but we are all on the same team. That's a great feeling. The benefits are also terrific - great medical, dental, 401K, etc, plus convenience items like cafeterias (pretty good), subsidized transit, company buses, etc.
Cons
I think the level to which the work has been standardized goes a bit too far sometimes. However, I think it's a hard balance to strike - if you don't have a procedure, there will be people clamoring for one, but once it's written, others will complain. I also think the scope of the job is too big for one person to keep good track of. There seems to be a lot of agreement on that point (voiced in meetings) but there does appear to be some effort in progress to find ways to redistribute the work. I've put in my share of 50+ hour weeks, but working OT from home takes off some of the sting, and it's not a constant - I often get out on time or close to it.