Pros
1) Lots of flexibility (in terms of office hours, work from home facility) 2) Relatively easy to shift from one location to another within IBM 3) Easy paced life with no stringent deadlines (for most groups) 4) High Return on Investment (RO!): ROI = Salary/Effort; Salary is Low but Effort required tends to zero, which makes it an ideal place for those who want to enjoy a content and relaxed life! :P
Cons
1) Lots of bureaucracy, and lack of transparency and even-handedness in promotions, annual assessment (PBC as they cal it), deciding to register your paper/sponsor your travel for conferences etc. 2) General tendency to hire mediocre people 3) Shockingly low average IQ 4) General emphasis on quantity instead of quality of work 5) To rise in ranks, just be a yes-man to your managers. Business impact is all they care for, without having the least idea as to what it means!