Pros
There are few companies that encourage a healthy exchange of ideas, Microsoft is one of them. Also the people that you work with are brilliant and extremely passionate. We do business in almost every country in the world. We embrace an extraordinarily diverse workforce...not just external diversity factors either. We embrace diversity of thought, experience, education ...etc. There has also been an increased focus on improving people management capabilities of front line and middle level management personnel. Traditionally managers were not great at Microsoft. This is changing and at some point in the near future, Microsoft will be known for its great people managers...we are not there yet.
Cons
Competition is king at Microsoft, even internally. That sometimes leads to a lack of cooperation and collaboration across teams/organizations.