Pros
The Gap offers a great benefit package for full time employees including medical, dental, 401K. One of the best perks is the generous employee discount. This discount can be used at Gap's sister companies, Old Navy and Banana Republic. Also, being in retail allows for flexible hours rather than the usual 9 to 5. Paid time off is available to full time employees and is accrued by hours worked. Your paid time off will also roll over into the next year. There is a limit to how much you can roll over, but I am not sure what it is. I know someone who accrued almost 6 weeks worth of PTO, so the limit is rather high.
Cons
There is very little room for upward movement. The company says that they prefer to promote from within, but I have seen several cases of very worthy employees being overlooked and someone being hired on to fill a management position. It also seems as though the company is suffering from the effects of the impending recession. They have seen a slump in sales and this results in less hours being available for those who want to work. Another downside is common to all retail jobs; working during the holidays. October through December is a very busy time and it can be difficult to get time off to spend with family.