Pros
When hired in John Deere offered a pension, unparalleled 401(k) matching, HSA contribution, high deductible health insurance plans, 10 vacation days (plus labor union negotiated holidays and holiday shutdown), life insurance, and non-taxable tuition reimbursement. Beyond these used to be starting benefits, you were able to be surrounded by 10, 20, 30 year experienced professionals to learn from that took great pride and integrity in their work. There was a sense that what we did mattered. Work hard and the company in its down cycles will do everything it can to take care of its employees who made it happen.
Cons
The total benefits package has been degraded the last decade to be still competitive but not as competitive as other Fortune 100s. You also still, overwhelmingly, need to reside in the Midwest (IA, IL) which is an undesirable place to live for most unless you have family there. Since new CEO and change of leadership the last 4 years, the culture of the company has greatly degraded for the worse. Retention and promotion of skilled employees is not seen as a priority anymore, the company's bottom line and a "fall in line" attitude is what is desired. Many of the 10, 20, 30 year experienced folks have left, been laid off, or if are left have the work of 3 people to be able to mentor the juniors coming in anymore. New people coming in will become the SME just by default of no one else knowing anything about what and how to get the job done. Manufacturing lines and good paying careers are on the increase of being moved outside of the United States.