Pros
The stability of the company especially in an economic crisis is reassuring and the people are as smart as they are diverse. On the team I work on there are people from almost every walk of life both experience-wise and ethnically. Training is always provided and people are more than willing to help you out professionally. If you perform well, career opportunities are available, but as with any organization - you'll get to a point where there are only a few slots open. Work life balance on a day to day is respected and especially on some long term leaves for family etc.
Cons
The recognition system is mediocre with annual reviews and small points given by senior management for a job well done. For the most part, feedback is generous but you need to tout your own horn for recognition to stand out against the crowd (as with any big company). Innovation and risk is rewarded only as much as senior management would like to take. The bureaucracy can sometimes be suffocating to push projects through or institute change.