Pros
Many of the nation's most influential policy advisers and researchers have roamed the famed halls of RAND. Generally people are friendly and accessible. A great place to make connections-- If you are a member of the research staff.
Cons
If you aren't a member of the research staff, or an executive, you'll fit into this box. Your job is to keep the lights on, the floors clean, the facilities running. You are a cost center. You are not seen to add value. You may not be seen at all. While many concepts behind modern technologies are the brainchildren of RAND alumni, technology is no longer a science here; it is merely 'IT'. Middle managers of the top-heavy IT department deliberate amongst themselves, and regularly make irresponsible, uninformed, and outdated decisions by committee, leaving no one accountable for the perpetual mess. IT literally holds this organization back in the 20th century.