Pros
Microsoft pays well and has the best benefits that I've ever seen for any company, especially for health insurance.
Cons
Microsoft feels very collegial and not in a good way. People who have been there for a long time call themselves "Softees". The top corporate leadership went to similar ivy league schools and have been there for more than 15 years, so they protect each other. It's very tough being a new manager to offer a different opinion, it's frowned on. They say they want people of diverse backgrounds to participate in introducing new ideas, but it's mostly lip service, since direct bosses will discourage it. Some bosses are frankly afraid, since they don't know anything else besides the "Softee" way. Microsoft works in a matrix leadership instead of a pyramid, which is unproductive and very political, since you most likely will not just have one boss, but a "skip" boss too that will compete to manage you. Middle management gets stuck in the middle, so it takes much longer to execute projects than it should be.