Pros
Relaxed work atmosphere, low expectations, hard to get in trouble or let go (same goes for the dummies too), enough benefits and pay to be comfortable. Probably as good as it goes for work/life balance.
Cons
Poor equipment, pay is less than other software companies, management knows nothing about IT all the way up the chain. Finance drives everything. Things are no longer built in house, everything is pushed to buy from typically Microsoft or other large vendors (even when it makes no financial sense). If you like working in a call center, all IT employees are being put into those desks and environment. Cram as many people into 5x5 "cubes" with no walls so you have to hear everyone on the phone and have no place to put your stuff. Yet they still can't afford to give us free drip coffee. The mass exodus started years ago when the company began to push away from the west coast with recurring layoffs every 6 months trying to get everyone to St Louis. Good employees leave quickly after seeing the bureaucracy and the fact that MBAs and PHDs are paid poorly and don't get promotions just like everyone else. Talent doesn't warrant promotions either and they don't happen since the overall budget is still in a freeze. No upward mobility (especially for those in senior positions like myself). As the economy has improved, Boeing posts higher profits, and the overall IT industry grows - Boeing tells it's employees they're overpaid, need to cut back, should be happy for what they have, and that the west coast isn't worth having programmers.