Pros
You can learn many best practices in safety. Apart from that, not many benefits are offered these days. Salary freeze was introduced last year. As for me, I have been in salary freeze since 4 years ago when I was told that I hit the ceiling of salary band and no one care enough to find solution for my career progression from manager I reports to, my one removed manager, or the leaders I work with.... despite my "very good performance" rating.
Cons
There are many good systems and sophisticated career models in place, but in the end it just a form filing exercise. I and my direct reports in my team were told by the manager I report to (or "one removed manager" to my direct reports) that we have been doing excellent works but... And in the the end, the ultimate argument was even he is not sure to survive the office politics. So, if you are hard worker and best performers, the tools and systems may recognized it but then it maybe overwrite by leaders decisions. So if you are in the organization, stay close within the inner circle to survive.