Pros
Your coworkers are amazing, the only reason why I stayed so long. It paid the bills as long as I was being bonused, but if you specialize in a declining category and you're given growth goals guess what happens? You learn to live off your slim base salary.
Cons
People with no managerial experience are hired as managers. They make decisions that they really don't understand and they are not the ones that have to deal with the fall out due to those. They don't take the time to learn the business and it can be very frustrating for those who are in the day to day grind. I also had a manager prevent me from putting in for a promotion when there were no grounds to do so. When the person that was supposed to guide me and help build me instead destroyed me, after almost a decade at a place I once loved and never dreamt I would leave; I knew it was time to move on.