Pros
I've been with eBay for quite some time now and can honestly tell that eBay has been through real technology turnaround in the last 3-4 years, it started by hiring new management team and it’s now affecting the individual contributor level. I grew up in this company’s product management org, and while only few years ago product management was about pitching for budget through ppt presentations and celebrating project approvals, now days it’s about collaborating with the engineering team, delivering a product, measuring success and celebrating our business impact. eBay marketplaces, and search in particular, is one of those places where you actually work on the core product and affect millions of users with every product change, we truly move the business needle and drive the company growth (check our stock price in the past 2 years!), and eventually, the true leaders of the organization, whether they are new employees or folks who’ve been around (like me) get recognized & compensated accordingly. The company is really focused on hiring great new talents; I can truly say the team becomes better every year.
Cons
Change is hard for many employees with the competition out there we sometime lose the leading talents. Like in any other big company, a lot of “low/average” performing employees are still around.