Pros
If you're good at what you do, you will get promoted here very quickly (see cons before you get excited). The employees (non-management) is what keeps people here. You can wear t-shirts and jeans, unless clients come to visit the office, then you need to put on the facade. HR is wonderful!
Cons
Salary is not competitive. Too late to enter Cloud market, No ownership or accountability when things go wrong. Its days, sometimes weeks, of finger pointing. Application stack offers no scalability or redundancy. Platform dependent. Workflow model is not clearly defined. Poorly executed Waterfall shop at best. Work-life balance doesn't exist unless you're a web developer or DBA. Every other team gets treated unequally. Don't ever mention open source to anyone there. Weekend work occurs every week scheduled and not compensated.