Pros
It all depends on your manager, but as a company they do endorse work/life balance (teleworking, flex hours, generous vacation time). The have a huge profit margin, so the salaries are above average, and there's been many years with bonuses (not guaranteed however). Benefits are good, although medical is very expensive.
Cons
Too many to count. IT staff is in contant agony, constantly being laid off and under constant threat to be replaced by offshore. Huge strategic move to outsource almost everything in IT. The technology center where I work is 90% Indian contractors. They are heavy users of offshore companies like Infosys, Tata Consulting and GenPact. It's a hopeless situation for resident IT employees. There is no career path and zero training budget. I have never seen anyone actually promoted. When you change titles it's usually because your salary has gone over the high end of the salary grade and you are forced to move into the next level. No job change, just a slightly different title. IT is very silo'd, and most groups do not work well together because of power struggles and the feeling they need to protect themselves and prove their value or they'll end up laid off or replaced by offshore. All of this has created a very stressful environment. As soon as the economy improves, I believe there will be many leaving (so they say). Rick Smith is a good CEO, but the people he puts in charge of IT are not technology leaders, they are business people who just want a cheap technology unit regardless of the quality or morale of the employees.