Pros
-Work/life balance -Flexible work schedule -Office location -Stability -Virtually impossible to get fired due to poor performance, so it's very easy to settle in and coast
Cons
-Unqualified and underperforming employees given too much power and influence over the company as a whole and on projects they have no business being on -The majority of the company is living in the stone age and doesn't care much about quality -Some employees have too much ego and are reluctant to learn new things or take advice -Poor inter-department communication -Employees that make an honest effort to improve the company are often stifled by politics and poor decision making by management -Upper management is out of touch with the realities of modern software development -Company has no definitive vision -Nepotism -Mid-low tier health insurance