Pros
Excellent company for freshers.It will give an overall picture of Technology,Industry,your strenghts and weakness.Moreover Wipro is a place where you can get a perfect analysis of how committed you are.Ideally its a very good place to begin career for a fresher in IT.After 3 YEARS you should definitely search other openings in markets(if you dont have a chance to go onsite/to get promoted to Module leader) ,preferably Product companies.(as u would have seen the end to end culture,trend of a service based CMMI level company at its best form in Wipro).I would advice freshers to be with wipro for atleast 1st 2 years of their careers(if u get campus placement at wipro and cts-choose wipro as u will get challenging projects and tight workschedules,compared to Cognizant).I feel Wipro and Infosys are the really genuine CMMi level5 companies which strictly follows process oriented software development/testing.CTS is not a real CMMI level5 even though its certified.
Cons
If u are planning a long term stay in wipro(5+ years),see that ur H1B visa is filed within 3 years,or u get a promotion to Module leader level in 3years.