Pros
Can stay for long period of time. Pay is better than other places, but doesn't really make up for the higher cost of living in the bay area. A lot of talented people.
Cons
Less stable with layoffs more common. TDs at pixar are TDs and visual effects artists elsewhere. If you can write python you're a TD, if you're primarily a texture painter, you're a TD. TDs end up siloed in departments: model, shade, lighting, global tech, crowds, tailoring, grooming, fx. Rarely do people cross over, and most tools are proprietary. This makes it tough for the next job, if you did stay for a long period, or didn't have a lot of other work, before your stint at Pixar.