Pros
If you demonstrate strong performance, you tend to be rewarded - raises will be solid and you will be given opportunities to broaden your career. Based on the size of the company, these opportunities are wide-ranging and geographically flexible -- if you want to move and travel, GE will accommodate you as long as your performance matches your goals. GE does have nice amenities on site in Schenectady, NY - a nice gym, a quality cafeteria, professional workspaces (most buildings anyway), soccer field, two softball fields, tennis and volleyball courts -- it is a generally a very nice campus that continues to be improved. The Energy business is solid -- if there is one thing the world will continue to need more of, it is energy. GE is positioned well to support these needs and seems willing to support investment in new technologies.
Cons
Depending on your role, work-life balance is a challenge. As you rise through the ranks, the demands on your time increase significantly. As someone with a young family, I do get complaints from my wife on the time spent at the office. As a profit driven business, GE tends to change priorities quickly which can cause uncertainty in your role and future. Senior managers tend to treat employees more like tools and less like people. You will either develop thick skin dealing with these individuals or you will quickly become unhappy. In their eyes, it seems easy to replace a broken tool.