Pros
Generally fair environment. There is some talent, but is usually muted by the bureaucracy that strangles any true growth. The company is stable and the 401k is good. Vacation policy is very good. Fantasticplace to have a child. The share value took a hit during the big recession but bounced right back.
Cons
Power is consolidated in the hands of a few. The idea of management is broadly applied to many non-essential layers in order to perpetuate the notion of advancement. In reality this feeds a pyramid structure that adds little or no value and often demotivates the one or two resources at the bottom that are responsible for any of the real work. I have worked in groups where there are literally 4 or 5 'managers' for one resource. Since there is really only one level of management that actually controls your compensation, there is often very little recognition of good work down the management chain, nor is there any true motivation to do more than a perceived benchmark. A bigger focus is put on the process than the product. Hours upon hours of wasted time on internal processes and bookkeeping. If you like to track your time, this is the job for you.