Pros
Good vacation, summer days, good location, nice offices - if the place doesn't bring you down...
Cons
Management has already worked out the answer, your job is to get into line and reflect their thinking. Deviation will result in being sent back to the drawing board and your project remaining in stasis until your plan matches theirs. Constant games of catch out to demonstrate management's superiority. No sense of accomplishment whatsoever. A sign on the wall says "done is better than perfect" - don't fall for the sign. Perfection is expected, and even if you deliver perfection some fault will be found to validate your inferiority. Strong clique primarily formed around a prior place of employment. This clique either hires from prior ranks or steers towards managers who are ruthless types who like to run the place with an iron fist If you're not part of that clique from this prior outfit then you had better be a yes man/woman or be willing to "swagger like us" in preposterous displays of loyalty and ring kissing.. Most figure this out and are gone in a year. Watch the smart people leave the quickest. Management has a superiority complex - over both product management (really vendor management) and engineering. Not a place to feel like you contribute. Management knows best, know your place. Trying to become a technology company but fixated down to minutiae on the application of agile to the point of counter-productivity. Management rigidly applies agile but don't follow the rules themselves. Deviations are heavily criticized - the place is fueled by negativity and criticism.