Pros
Good health package, annual performance based bonus, large and stable company that has its' hands in everything, they have tuition assistance and also give you full access to a multitude of free elearning courses. They have a lot of money, use as much of what they offer as you can to make yourself worth more.
Cons
I really do not understand how anyone who has ambition could stay at this company long term (at least from the point of beginning/mid-career). In my specific instance there is very little (read: none) possibility of advancement within the company however I'd hope in other business units this would be different. Even if you do choose to move up within the company, the internal pay increase limits absolutely kill the deal. Why would you stay with Verizon when you could go somewhere else to move vertically and get paid 30k more (as opposed to 5-10k) - you could always come back to verzion later. They make it more beneficial to you to leave, although they will put their money on you getting comfortable. They do not truly acknowledge good work. Also compliance of their own policies is severely lacking.