Pros
Fantastic benefits: paid health insurance premiums, retirement contribution matching, 21+ days vacation accrued in a year, lots of sick leave available if needed, free employee tuition for many (not all) programs. It's a solid 9-5 job with enough work-life balance to have a life outside of work. Many of my coworkers all have interesting lives that they live outside of work. A lot of middle aged and retiring employees have made great. careers for themselves at NYU, being here for upwards of 30 years.
Cons
Your experience really depends on the department, your title and your manager. Some departments have very temperamental leadership. Some job titles require being "always on". There's no clear promotion pathway. Like they incentivize going to all these internally promoted professional development events and programs but it leads to nothing. Most people's advice is to either get a second job or leave NYU if you want more money. The few good paying jobs that are posted internally are almost always going to be filled from outside the department or from outside NYU. Salary compression is a very big problem right now. Newer people coming in are making almost as much as people with 10+ years at NYU. Titles have very little to do with actual day to day work and a mid-senior title in one division may be considered an entry level title in another division.