Pros
Emerson has very rigorous processes that have been honed over 20+ years, and learning these as part of leading a team has been a great career improvement. They know how to manage a large company efficiently, and they acknowledge that they are learning how to stimulate growth and they are trying to get better at it. You get all of the benefits of a large company, and if you are a hard worker, they take care of you - it's just not in the timeline that many people would like. Career progression at Emerson needs to be looked at in terms of decades - not years. The difference between Emerson and smaller firms where the career progression may be faster is that you can rest assured that Emerson will be there decades from now, and you aren't so sure that these smaller, fast progressing companies will be.
Cons
There are the typical large corporation issues that you have to deal with. The most frustrating of which for me is how difficult it has been to get rid of a low performer. The company is very litigious in its approach to eliminating poor employees, and that culture makes it incredibly painful for the division management. As a result, many managers simply don't try to do it, and low performers are allowed to stay for a long period of time, which not only brings down overall performance, but morale as well.