Pros
Good work-life balance. Work is not so hectic (it may be dependent on the product development team you are in). Flexible work timings (it may be dependent on your immediate manager). Enough work-from-home options (it may also be dependent on your manager and team).
Cons
The compensation and monetary benefits are on the lower side, but for the amount of work you are expected to do, it can probably be justified! HR department is more or less powerless. It makes the yearly reviews and appraisals totally dependent on the manager, and hence it lacks transparency to some extent. It is an engineering driven company. Hence not the best for product managers. Growth in engineering track is any day better than Product management track. Good for engineers though! Too much of flab in the mid-management level, that makes it difficult to climb up the ladder. There are many instances where mid-level employees leave the company, and come back to Oracle after 7-8 years at a much higher level, thus by-passing the bulky mid-level.