Pros
The best reason to work for Harvard University is the TAP education benefit which allows employees to take courses at Harvard Extension School for $40 each plus the cost of books. Courses do not have to be job related, and can be taken for no credit, undergraduate credit, or graduate credit. You can get a degree in "Liberal Arts" at Harvard Extension School, which is not the same thing as getting a real degree at Harvard College. Harvard Extension School is the open enrollment evening division of Harvard. The one exception to this is the School of Education. You can get a Masters degree in Education using TAP through Harvard's School of Education that is the same degree that full-time "regular" students get. Working at Harvard can be used as a stepping stone to finishing a degree, getting an advanced degree, or simply as a means to enriching one's personal life.
Cons
There is very little opportunity for advancement at Harvard. The faculty and the students are carefully selected from amongst the best and brightest, senior management is not. There are many managers here who are jaded and bitter and who will never voluntarily leave, and they make life miserable for the people who work for them. This fact is widely acknowledged by senior management, which has run several employee surveys over the past 5 years trying to figure out how to improve Harvard employees work experience. Unfortunately, they did not follow through and insist on change or documentation of change, and so there has been little improvement.