Pros
Employees are open to explore the areas that interest them. The organization structure is more flexible than most enterprise software companies. Collegial feel. People actually have time to help each other. Considerable less politics and islands of control than most other companies of the size. Even the most contentious situations work themselves out better here than in other places. There are issues, but less intrusive on one's worklife than in most other companies or can be worked around. Good work-life balance I still sometimes wonder about some management decisions, but I know that if I am inclined I am open to question them and the decisions are more rational than at other companies.
Cons
The story about the company culture and organization structure is interesting, but if I just tell people that I work for a company that does software for the insurance industry that generally loses their interest :) The freedom for an employee to mold one's job and change the company's processes can work both ways. People who are just waiting on what to do next may stagnant or not take advantage of what the company has to offer. People that join the company looking for status or riches are not going to do well here. People succeed mostly on merits and how well they get along with people around them. There are no real overt status measures and stock grants are not likely to change one's life. This review is for the dev organization. The professional services feel may be quite different.