Pros
Working for the mainline, the overall package on a pure contract based assessment is still good and comparable with other large international airlines. Very good safety-culture. ("Just culture" with non-punitive reporting, a great deal of autonomy since fleet management generally trusts pilots to make reasonable decisions. No micro-management). Part-Time work and maternity leave are possible without repercussions. Company by and large abides by German Labor Law and individual contracts. Very good social safety net in case of sickness (also long term) and personal emergencies.
Cons
The fabric of trust between employees and top management has been broken. Actions by management in the recent past indicate, that the long term goal is to replace as many employees as possible of the main line by those of other group airlines due to the lower cost. It may mean a slow phase-out of Lufthansa Airlines for the benefit of the ever increasing list of other group airlines with - in part - substandard working conditions. Wether young first officers will have a chance for a decent career in Lufthansa mainline remains to be seen. Student pilots have been on hold for more can 10 years. Time to upgrade to captain is approaching 20 years. Since Corona there has been a mutual attempt between top management and unions to de-escalate, but long-termers have seen this before. Wether this is just temporary or a real change for the better will be apparent in the next global airline crisis.