Pros
In field OPS you can gain valuable experience in payroll, payroll taxes, payroll software, and customer service. Paychex is a decent place to learn, just not a long term career move for most. Treat your stay as an extended internship and you'll be satisfied. Benefits are reasonable - insurance and retirement options are affordable. Time off is typical two weeks, but goes up after 5 years. Exempt employees get additional sick time for time served with company.
Cons
Pay is very low for the job market. Paychex apparently bases it's wage on the banking industry, when payroll specialists/customer service reps are essentially HR and Accounting consultants. The work doesn't match up to the work load - high turnover is the result. Semi-Annual Bonus is lame - not based on personal performance, but office performance. High turnover and undervalued employees results in poor customer feedback and inability to reach arbitrary corporate goals. Annual reviews / merit increases are minimal - typically 2 - 3 percent. Inadequately managed. Supervisors are expected to be full-on business managers, and actual managers want to delegate and "teach" the supervisors. Interviewing is arduous (often 3 weeks+ with 5+ meetings) and mgmt still hire poorly qualified or poorly motivated candidates. Likely typical large corporate complaints. If you're a "glass half full" person Paychex is probably a good fit. Otherwise, think twice before making the plunge.