Pros
Good pay, Good benefits even though they have been drastically reduced, good experience if you can work for the right people.
Cons
The environment is highly political, lots of territorial jockeying, it's a place that loves to pigeon hole people so don't expect to get to try new things. Not a place for a long term career anymore. Staying for long time will hurt your chances for finding a new job.... HR is worthless, more so than in any other company I have ever worked. HR only worries about spinning "it" the right way and this culture killer has migrated through out the company. They embraced "project management" a few years ago and 99% of them are "worthless". They could save a ton of money by getting rid of them yet they continue to lay off technical people...