Pros
This is a company that believes in it's journalistic mission as a means of enriching society. It's important and it is great feeling that you are a part of that. In the NYT you get to work without many technologies covering latest 3rd party APIs, internal APIs, EC2, PHP, JavaScript, mobile (iOS, Android), internal CMS, feed services and more. Colleagues are sharp, good natured and great to work with. Management within software group are themselves software devs. Depending on your project you get to collaborate with editorial and build one of the largest news sites on the planet. Finally, there is an active roadmap to harnessing developer ideas and using that to drive innovation on the web site and within the organization.
Cons
Nothing worse that what you'd expect at other companies and would learn to navigate around. Product and Ad people try to get last minute features included after requirements freeze. Sometimes there are too many people at too many meetings (easy to avoid once you recognize they don't need to be there). As the company continues its push to digital first/print second there are a number of depts from print side that are struggling to stay relevant and thereby attaching a voice to projects they don't need to be in. Again, avoidable once you realize this.