Pros
There are good mentors floating around, and if you can find one, it makes working here invaluable. I have gained a lot of competitive work experience thanks to amazing engineers who believed in me and took the time to mentor me. I have several coworkers who feel the same way. (Unfortunately a lot of those good mentors have left the company in the past couple of years.)
Cons
The company is putting extreme effort into hiring, while retention gets blown off. Talented engineers who have been at the company for years watch new hires with less experience get hired in at significantly higher salaries and pay grades. A significant portion of our top talent has left for more competitive commercial opportunities, and it just makes the workload more painful for the experienced employees who stay. There is also some really painful discrimination going on at this company: be very cautious if you are a female. Our HR department is absolutely incompetent.