Individual contributors are buried under excessive layers of incompetent management that are all desperate to prove how useful they are. Turnover rate for top talent is pretty high, and what's left bubbles up into management, mostly based on seniority, not skill.
Any attempt at innovation or original thought is quickly squashed by a pervasive "this is the way we've always done it" monoculture. Very slow to adapt.
Pay for IT jobs is way below market average. Benefits are not what they used to be, so it's become even less competitive than it was in years past, and that's not saying much.
Management has basically been a game of musical chairs for years now. Re-orgs several times a year means that your manager is pretty much guaranteed to not have a clue about what you specialize in, but that doesn't stop most of them from from micromanaging you and telling you how you should do your job.
