Pros
Financial stability of the company and job security (regulated industry)
Cons
Corporate culture is very negative and stale. Because of the pension (not applicable to new hires) mediocre performers stay in the company for their entire career stewing over decade-long conflicts. The company is insanely political - to be promoted and (most importantly) retain your ground one needs to be aligned with powerful advocates all the way up the chain. The political wind often change as the company go through at least one reorg per year in order to divvy up the empire based on the flavor of the day i.e. who are the most powerful favorites and their cronies. It is also very backward company in terms of technology, workforce diversity and promoting minorities. The fairy tales they tell you on their website are exactly what they are - fairly tales.