Pros
No pressure to perform. Almost no oversight. Work from home whenever you like. Work whenever you like.
Cons
The company focusses on developing managers over software developers, I've been on the same team for 6 years and have had 6 managers. This makes any kind of recognition almost impossible, not to mention team stability. Which leads me to my next point. There is no pressure to perform because your promotion are entirely based on tenure. Every two years you get a promotion, which removes any desire to perform well. This creates an environment where it's almost impossible to get anything done, because nobody has a sense of urgency or a deserved sense of pride in their work. I had a teammate that would be on social media all day, when he wasn't sleeping at his desk, and was promoted in two years. The pay is below average for software developers in this city. The company prides itself on its annual bonuses. These are great for call center employees or insurance adjusters, but they are sub-par for software developers. And, as with all things USAA, these bonuses are not personal performance-based. They are standard amounts until you get to management, director, VP,... all of which get a multiplier on the base bonus, still not based on performance. No admin rights to developer's computers. Because this is such a big company, compounded by the previously mentioned cons, we end up almost a full year behind the industry. It's like sitting on your hands while trying to do your job. I wouldn't wish this company on any high performing software developer. If you're looking for a place to "work" in a relaxed environment to run out your career making enough to be relatively comfortable, this is the place for you.