Pros
Easy going, it's hard to get fired here. Pay is alright.
Cons
The technical talent is lower than what you'd find at top technical firms, there's a lot of emphasis on process (especially "Agile") to compensate for completely inconsistent hiring bar. There's a layer of "architects" that run around and talk down to engineering teams while creating useless powerpoint-ware and pontificating about abstract architecture at great length. Most are mediocre at best (Nokia / Navteq holdovers) that have gathered a lot of influence in their sphere, but at any major technology company, would not have a role anywhere near what they have. The leadership above them isn't strong enough to understand that real technology companies have removed this layer (or have very strong people in these roles).