Pros
Salaries are good-2-better with respect to other companies. I'm a Technical Project Manager making $115,000 after 15 years. Depending on job/manager, flexible with vacation scheduling, days off. Have a good Telecommuting policy but ability to take advantage depends on location/manager. Typically you can telecommute 2-3 days/week. Benefits are good to very good. 6% match in 401K (but stocks in the crapper for years so what’s the benefit?!), Good Medical/Dental/Insurance. 100% Tuition reimbursement. Reimbursement for about 40% phone service. Some other minor additional bennies such as discounts on numerous products/services.
Cons
Speaking from a Management perspective, majority of promos are based on biased, subjective opinions. It's who you know, not what you know. Growth if you're strictly Management where Technical abilities are not deemed as worthy. Management potentially has to perform Union duties every 3-5 years due to CWA/IBEW contracts. Inter-office politics occurs a lot, everyone trying to do the same thing just to save their job. No more pensions, which is another blow against management. Layoffs/Reduction In Force(RIF) have been occurring about 2-3 times/year for the last 5 years. Your job is not safe. IT jobs have gone overseas to India and Executive Management doesn't realize the headaches/$$$ it truly costs. Overall opinion is that VZ doesn't really care about the employees; you’re just another cog in the wheel.