Pros
Oracle can be a fun, dynamic and very interesting place to work, with challenging assignments that foster growth and a real sense of accomplishment. They also have gold plated benefits, which can easily become golden handcuffs
Cons
This can be a very depersonalizing place to work, with almost everything done under the umbrella of "self-service." Oracle also gives off the impression that they really do not care about you beyond your ability to produce revenue, with even very short periods of bench time (2 weeks, or even less, depending on your boss) being questioned. It is also the place where I heard a senior VP say, "You people need to get over the whole customer thing. Customers are not the most important thing if it doesn't translate to revenue." Also, when you apply, go for the best salary and benefit package you can negotiate, since you won't be getting either bonuses or raises, no matter how well the company does.