Pros
Superior compensation and work/life balance. This private company has been around for decades and has oodles of profits to attract and retain employees. Profit sharing for all employees (i.e. including the lowest levels) helps gain goal alignment within a department.
Cons
There is a specific way management wants every process to run (e.g. Write in the active voice, a comma should go here, apply this label here) which makes change management difficult for someone new. You do not have control over your career path and, as a supervisor, you feel like a talking head--that is, passing down the decisions made by the precious few in power at the organization. Even though the company attracts bright talent, it comes across as treating them like naive children. It's a disconnect to hire bright, creative minds and then confine them to a few approaches with limited influence/ownership. In the end, people stay around due to committment to the compensation.