Pros
Some of the other people are cool. Sense of doing something helpful for society in the product you are working on. Some of the benefits are still good (i.e. 401k and insurance).
Cons
You are a number, usually referred as "a warm body". Everything is needed "now" because schedule is volatile and nobody is expected to change their process to relieve any pressure from engineering. Engineering is the only department held accountable for anything. Do not expect to receive any appreciation from anyone, you will not get it. Even if you worked all night to complete something urgent, you will only hear about your mistakes; that is all anyone remembers. Your training will be minimal at best, prepare to research everything on your own. You will be constantly harassed to complete your projects faster. If you make an error, five different people will call you and email you within 15 minutes. There is no upward movement, you will be stuck in your position, especially if you are good at what you do. If you have no clue what you are doing, and also make the most mistakes, you will likely become a supervisor. If you are not in the inner circle your ideas for improvement will be ignored and then 3 months later implemented while someone else claims the recognition. If you are ruthless enough and get in with the right people, you can probably stab someone in the back enough to climb over them and get an upper management position. Everyone blames everyone else and makes excuses for why they didn't get their job done, there is no team work, there is no professionalism, you will be doing the job of 5 people and being paid for 3/4 of a person. There is no longer a bonus program, even though the company is now public there is no profit share or stock options. "Vacation" days are now earned, not given. You have to work the entire year to earn your days of time off that expire on your anniversary date, if you don't work the entire year but took all of your vacation you will be charged for those days you took but didn't earn. Salaried employees do not get sick days. There are no protections, I have seen really good people get terminated for no reason, or for being a threat to someone's position. You need to keep everything, get everything in writing and keep your emails and notes for when you get thrown under the bus or taken advantage of, sometimes then it is still not enough. You will get PTSD from the abuse.