Pros
The team I am on has provided me a lot of opportunities to learn and grow. There is free* lunch served every day. (* you get taxed for it, and currently there is not much choice. This is planned to change in the next year.)
Cons
Little to no schedule or work from home flexibility. Developers are not consulted before decisions are made, but always held responsible for the consequences. Would rather pay millions of dollars per year in licensing fees to replace the current system with a system that is not equivalent instead of investing a fraction of it to make the current system better. Poor communication between groups, from top to bottom and side to side. No development methodology. No change management control. No planning, only reacting. Free for all, chaotic, everything is broken panic mode mentality.