Pros
Well-known brand. Opportunities to work on visible initiatives. Strong experience if you are willing to take on more than your role formally reflects. Can be a fun place to work if you're young and willing to work long hours.
Cons
Chronic mismatch between responsibility and compensation. Employees can be under-leveled for the work they are actually doing, and high-performing employees may carry senior-level scope without equivalent title progression or pay. Although Polaris uses a 9-point performance scale, advancement does not appear to function as a true merit-based system. In practice, the number of top ratings and promotions available within a team seems constrained in advance, which undermines the purpose of performance differentiation. Employees can perform at a consistently high level for multiple years and still be passed over, not because of contribution or readiness, but because of budget limits, distribution targets, or informal rotation. Recognition and advancement do not always follow performance, and compensation can be materially misaligned with actual role scope and responsibility. In my experience, the institution protects process better than it protects people.