Pros
The first thing that i like about National Instruments is how friendly and open everyone is. NI hires 100-200 young graduates every year into &D and its ELP program and so there are many young people at work. NI has a strong company culture that rewards creativity and hardwork. However, you certainly have to set yourself apart from the crowd to get noticed. People that make their mark are given swift promotions and lot of responsibility. People who cannot fit into this system tend to quit early. NI has many layers of management but there seems to be very little bureaucracy. Most managers are very approachable and open. Upper management makes a lot of effort to communicate business decisions and the company's financial condition to all employees on a regular basis. In general, employees trust them to make good decisions.
Cons
Compensation seems to be lower than comparable jobs at other companies. However, this is offset somewhat by a good benefits package and a lot of job security. During the 2009 economic downturn, all employees took a 5% paycut (and the management team took a 10% paycut), to avoid layoffs.