Pros
Very good pay and annual bonus. Decent work life balance and PTO. Culture is mostly respectful and civilized.
Cons
You must always fear loosing your job to layoffs and offshoring. That is the one common theme at PepsiCo, especially in IT. No matter your talent or importance to the role or a project, cost savings is what matters to PepsiCo...and offshoring your position typically is what happens especially since PepsiCo has offices in India, Egypt, Mexico where labor is naturally cheaper than in US. It is not a matter of 'If' but 'when' and the risk is even higher for older longer term employees. I've witnessed people getting laid off within 1 to 2 years after getting hired due to offshoring. Advice, if you get a job in IT at PepsiCo have your resume updated and ready for when they do eventually offshore your position.