Pros
A lot of great people, non-managerial employees enjoy work and have fun, learn a lot about cars (makes, models, trim levels, etc.) Great job for college students looking to make decent money and work part-time, opportunities for advancement are available (but lead to nothing). Benefits are good.
Cons
AVOID ANY ADVANCEMENT INTO MANAGEMENT! Management is a complete mess, everyone micro-managing each other, extremely stressful and pay is based on what you made prior and you receive a very small increase in pay when you are "promoted". Half the day is spent in meetings that are a waste and take away from valuable time that could be spent training associates and helping customers. CARMAX IS RUN LIKE A TYPICAL BIG BOX RETAILER. Every department is run poorly and inefficiently. People are fired for ridiculous reasons, things that aren't their fault because they literally turn any issue into a corporate investigation. Nothing is handled on a store level by the 15+ managers that are there everyday. Looking back, it's ridiculous and I can't believe I worked there as long as I did!