Pros
Competitive (though not industry-leading) compensation, continuing education, relatively easy logistics...it's nice being in a quaint college town.
Cons
University is not responsive to or in any way responsible to its employees, especially physical plant workers and grad students -- seems to take the position that as the only game in town, the workers have no alternatives. HR Transformation doesn't seem to have made HR any more effective -- but it has made it much harder to identify and reach an HR rep. Standards are high, but inconsistently so, and there are employees there who have been underperforming or acting badly towards their colleagues for decades, and yet allowed to continue working there. The organization is not diverse or especially aware of its lack of diversity. Work-life balance can be poor, because there is no comp time -- but there's a lot of PTO available. Finally, it's getting increasingly harder to defend the institution's ethics, in light of their odd handling of the recent fraternity scandals.