Pros
Your salary is paid on time. There are clear policies and procedures for almost everything. There is little room for uncertainties in how to do business. Your role is clearly defined in the contract, and mostly agrees with your job description. Free coffee is available at the break-out areas.
Cons
Salary should be negotiated well during interview. Make sure you know what you are worth. After you start, you barely get an increase afterward. Any increases you will receive will definitely be below the changes in cost of living. The organization is very bureaucratic and hierarchical. The company culture is such that people who have higher titles than you make sure you understand that you are speaking to a senior person when you interact with them. You are supposed to do exactly what you are told to do. You do not really have the opportunity to make suggestions in what you see as failing, or put your ideas forward. You are not going to be listened to. You are not given chance to make impact. Incompetent managers, especially at the mid-level. Definitely not experts in their areas. I have the impression that it is their sheer success in company politics that keep them afloat, not their record of achievements, knowledge or wisdom. (Unsurprisingly) high turnover rates. The management does nothing to keep people motivated, satisfied and recognized.