Pros
Good brand name - people know Citi. It sure does have recognition. On a flip side, some people see Citi as a credit card and mortgage company... Benefits are pretty decent, good vacation allowance. Because Citi is so big, it can provide opportunities to work in different departments, regions and even countries. Not sure about compensation in other cities, but its very competitive over here compared to other banks.
Cons
Working at a big company has its drawbacks as well. A lot of times communication is broken between departments. Sales goals are nearly impossible to reach eliminating a chance of promised commission. Not easy to move up - Citi's presence in Boston is still very limited. Insurance premiums are fairly high, but I guess they are high everywhere these days.