Pros
Pay and benefits are well above industry average--get paid like a Google employee with 1/10th the experience. You don't really have to work. No one ever gets fired. There was one firing a couple years ago and the culture freaked out. The culture does not focus on improving performance. They will just hire 10 more people and hope that one helps out.
Cons
Zero advancement no matter how hard you work until you have been there 15+ years. It's all about length of time. There is zero merit focus in the culture. Sometimes you feel bad that you don't meet internal needs. The whole culture is about excuses why you cannot do something. If you can make lots of excuses about why something is complicated or risky, then you are promotion material (after 15 years of service). Frankly we are over charging clients in a world where they can get our services for 1/100th the price. Not sure how long this high cost business model will last but more of a 10 year problem than a one year issue.