Pros
Amazon.com is a great company to work for. Features are always designed with the customer in mind. Customer trust/loyalty is high. Very short release cycles (less than one month), means that your work has an immediate impact. Many managers were SDEs at some point, so they have reasonable expectations. Easy to switch to different teams working on completely different technologies (must remain with a team for at least a year, but free to move afterwards). Opportunities to move from SDE to management.
Cons
Pager rotation - Building a large scale web service with tons of customers, means that any bugs encountered needs to be fixed immediately by the responsible team. Quick release cycles exacerbate this. Rotations are typically split evenly across the SDEs of a team.