Pros
The people are friendly, and the company cares a lot about work/life balance. Compensation and benefits are excellent as compared to similar companies. Upper management is very accessible to the workforce. Many employees have worked at Baxter for many years which shows that the culture promotes careers within the company, and workers who stay are generally satisfied with the job and the lifestyle, etc. Healthcare is a generally stable industy and very attractive in times when the markets are unstable. All in all, it is a corporation that makes healthcare products, pays decently well, and tends to keep people around.
Cons
Although the social networks within the company are strong, Baxter oftentimes resembles high school with cliques and favorites. This is especially prevelent within the lower ranks and the development programs for first time hires. Those employees that are picked to be "favorites" often stay for many years and have to struggle within the terrible promotion structure. Baxter is a very conservative company with little excitement. If you are looking for someone to discuss market news with, this is not the place for you. Most people are concerned with punching the clock and then hurrying home to their respective suburbs. I got the impression that most of the people cared little about their jobs and stayed for many years because they were to lazy or scared to look into anything else.