Pros
Its a job and hell, you'll continue to get paid. As long as you sit there, you can be grossly incompetent and still do better than the person ready to move and get real work done. Overall, the idea is that if you stick around long enough, you might even get a promotion. People do get paid well if they stay long enough. The positions are pretty stable as long as you comply with the culture of "sit down, do your job, and don't worry your pretty little head with anything else" Overall, this is the sort of place for a person who is fairly lazy.
Cons
Lord have mercy. Ideas are shot down if they don't come from the top people. It doesn't matter if the person's knowledge is more solid, informed and relevant to the issues at hand. Furthermore, professional development is more or less discouraged. Don't worry, you won't be going to any classes. The folks there are miserable and are pretty open about talking to each other about it (but most certainly not to the management for fear of being fired). Overall, the culture is based around promoting fear and driving people like cattle. As it was said by my manager, "We're just trying to stay out of the unemployment line."