Pros
Great colleagues. Great benefits. Good compensation. Decent work life balance. Some software projects are interesting. Lately they are improving how software projects are run. There has been some relaxing of the unending emphasis on Time-to-Market (i.e. deliver something asap) to actually taking the time to build something cool.
Cons
Old and proprietary technology. There is no way around this. The terminal is an artifact from the 80s ... with several paint jobs. But hey it works! There are some teams working on cool stuff but they are the exception rather than the norm. Management is rigid and there is quite some bit of politics. Not always a meritocracy - more like a favoritocracy. But that is a fact of life everywhere. Big brother atmosphere - where everything is monitored. Lately this has been improving.