Pros
Great pay and compensation plan, bonus, PTO 401(k) and pension. Health benefits are pretty inexpensive but deductibles are pretty high if special treatment, hospital, etc is required. Excellent facilities, top notch equipment and projects to work on, and smart people to interact with on a daily basis.
Cons
Executive management really needs to ensure the directors in place are the right people for the job. Directors (and Executive Directors) in certain areas have been hired because they perhaps looked good on paper, but it was quickly discovered they were WAY over their head or had no big picture vision or direction. In most cases those people have been removed but there are a few who are still completely not the right person for the job, it's stagnating growth and development, and it's can be very frustrating to managers and direct reports.