Pros
Company is relatively secure financially at a time when many publishers are struggling; has some concern for the well-being of its employees; good benefits esp. by publishing standards; pay is above average for the industry
Cons
There's really no place to go in terms of advancement. Entry-level positions may move up a notch or two (they have in my group), but once you move up a little to more mid-range position you're pretty much stuck for life. What you're doing at 30 or 35 is pretty much what you'll be doing when you're 60. Management is civil but cool and distant--there's a very strict pecking order. I don't expect them to be my new best friends but they're so remote it's a bit creepy, almost robotic. Pay isn't great, esp. by metro NY standards, but book publishing is a low-paying industry that's gotten away with it for decades. So I give them credit, but the bar's been set rather low by the industry.