Pros
Like in most other major employers, there are always really bright people. There are also really nice people to work with. Some people belong in both teams. Compensation is generally very good. In fact, it is above the market for some teams. If you are wondering why that is, you may want to read the "Cons" section.
Cons
If you have watched Apple's 1984 Super Bowl commercial, then you know how Apple is. Apple has now become exactly that which it despised the most: the IBM of the 80's. The Establishment. The Big Brother. Apple has grown old and both leadership and management want only to be worshiped; they only want to listen to praise. There are no dissenting voices; nobody from above likes that and Apple is famous for having the most tyrannical and ruthless HR departments in the industry; so don't dissent, and don't expect an ethical behavior if you do. The amount of kool-aid that Apple employees are forced to drink on a daily basis only compares to the best (or worst) years of Facebook or Yahoo. And again, don't be a dissenting voice or your life will be made hell. Of course, your mileage may vary. Since Apple is so extremely fractured and isolated internally, there must be lucky pockets where things are better. The large majority is not, however. Internal mobility is nonexistent.