Pros
As someone who has spent a lot of years at this company, I'm perplexed by some of the bashing. I'm pretty sure I've worked alongside some of the people that have entered negative feedback. The truth is that if you work hard and don't expect that you will be a manager or make a six figure salary three or four years into your career, you'll be very satisfied with your experience at PHLY. No company is perfect, but for its size, this company has excellent access to senior management. Every year they tour all the major offices across the country in a roadshow format (13 of them + the home office) and listen to everyone's concerns and recommendations for improvement. I've never heard of any multi-billion dollar insurance companies that do that. The compensation is fair and there are plenty of incentives (bonus, spot bonus, etc) that close the comp gap between PHLY and other companies. I have seen several of my peers leave this company (and blast it on the way out) only to re-apply a year later.
Cons
Bonus objectives aren't typically released to employees until April or May so you don't know what your goals are until three or more months into the year but the goals don't change much year to year.