Pros
The company is a good place to work if you're looking for work/life balance. Schedule and work place flexibility are good in nearly all groups. The company is also good about developing their people -- continuous training is available for both deepening existing skill sets and developing new ones. There is openness by most managers to have employees move from group to group. A person could have a 20+ year career at Wells Fargo which includes 10 or more very different jobs. In general, the culture is one of partnering and doing what's right for the customer. The company has lots of community involvement.
Cons
The downsides of the company is due to the double edge sword of having a culture of employees who stay with the company for 20+ years. On the one hand, its great to have continuity through the years with employees who have deep customer, enterprise, system, etc knowledge. However, many of the employees who are long tenured also stay in the same group and are adverse to change (hence staying in the same group). Additionally, many of the long tenured employees also end up moving up the ranks because of their tenure and corporate knowledge vs. being the right leader for the group. The combination of long tenured employees and managers staying in the same group leads to areas of the company that are very slow to change, lack innovation, lack leadership, and reward those that don't rock the boat. Thank goodness not all groups within Wells Fargo are this way. There are many great leaders who are long tenured with both deepth and breath -- the ones that have taken on varying roles in different groups vs. the ones who have stayed in the same group they were hired into.