Pros
Possibility of keeping up to date with latest technologies. I always enjoyed the fact the the company is probably one of most important user of it's own products and technologies. Company sponsored trainings among the best in class, job security and company solid financial results. You can really feel that the company is looking after you. Quite well organized processes, but also quite complicated. Career opportunities both horizontally and vertically and also at a global level.
Cons
Bureaucracy!!! It is quite normal for an American company to have a certain degree of bureaucracy, but I think Oracle excels at that. For a project manager navigating through complicated processes and approval workflows it adds a heavy burden to the every day tasks of running projects. It is also a good reason for the high number of indirect personnel/support functions positions in the company. High pressure, generally tough life, at least for a project manager running 4-5 projects in parallel. You have to enjoy this way of living in order to get results, otherwise you easily become demotivated. Not among the best packages on the market, but definitely not the worst either. For consulting people (that at the end of the day bring cash into the company), the package could use some improvements in order to become competitive on the marked and attract and retain talented people.