Pros
MIT has established a strong collaborative professional environment, fostering cross-discipline teamwork while also offering opportunities for independent initiative & achievement, and all in the context of a globally-recognized institution of higher education. Working at MIT offers the chance to help establish new standards and surpass existing ones within the larger community. Over-arching plaudits aside, the working environment - though not lavish - is generally friendly and comfortable, with a wide range of available transportation options to serve the commute and intra-campus travel, along with access to Boston just across the Charles River.
Cons
Despite the status of MIT atop the pyramid in research, education, and technology, the same basic business and implementation challenges exist here as in all other areas of higher education and the corporate world - expectations to the contrary would be ill-advised. Such situations do provide opportunities for novel solutions due to this unique environment, however, and can make scaling these obstacles at and as a part of MIT even more rewarding.