Pros
The single best part of working at Goldman Sachs are the people. I have never worked for a better, more professional, intelligent, and committed group of people in my career. The opportunity to work with the people Goldman Sachs is the best part of working for the firm.
Cons
Development is viewed as a "cost" center and you are treated accordingly. If there is a down year or any issues, your raises and/or bonuses are the first to go. Not upper management who actually makes the decisions or are to blame for the bad years...yours. Be prepared to work on dual 19" monitors from the 90's in a tiny and noisy environment. If you ask to upgrade your monitors you will be told "We can spend thousands of dollars on upgrading everyone's monitors, but that's somebody's bonus!". They refuse to spend any more money on a department that is already viewed as an expense. There isn't an employer/employee relationship. They will try to get the absolute most out of you that they can and that you'll let them. Always with the promise of an "amazing raise" or "amazing bonus" that never materializes.