Pros
Compensation is pretty fair for the area, but heavily weighted towards an end-of-year bonus. Low-performers are almost never dealt with, with means that advancement, up to a point, is pretty easy if you put in the effort and try to do your job. If you like living in the midwest (I do) this is one of the better compensated places you can go. There is also the chance to move around within the company with a good relo package to offset some of the costs associated with moving for work. At the supervisor level, they will even buy out you house to get you down the road faster.
Cons
Politically, a complete nightmare. I have never worked someplace where there were so many landmines to avoid. Also, expect complete shock if you ever express a desire to do something different or work at another company. Most Deere folks are so brainwashed they think that Deere is the ONLY place anyone should ever want to work. Its certainly a good job, but it is not the same, great, employee-focused place it was in the past. Current management practice is to pay lip-service to the importance of employees to the organization, while constantly "refining" the formula used to calculate bonuses and raises so that you make the same or less each year regardless your performance. Benefits have really taken a hit in the last several years as well, first with a significant change to the health insurance (that resulted in a lawsuit from a group of retirees) and then with a significant cut to the 401K matching plan. The ONLY way to really see a noticeable change in your compensation from year to year is to continue to get promoted. That means you see an organization where every other year people are jumping to new jobs. Continuity within functional areas is horrible. The person you are working with on a project today won't be there tomorrow, and you had better plan to find your next role the day after that if you don't want to be labelled as someone who isn't capable of moving up.