Pros
1. Big name for CV (if that's even worth anything any more) otherwise none.
Cons
1. Talentless drones 2. Wages relatively low, bonuses practically non-existent. 3. Pigeonholed - most people get pidgeonholed in to single-skill or sometimes no-skill boring jobs. 4. Slow train to nowhere - it's one of those places you spend 20 years trying to get somewhere by which time you're as useless as everyone else but have a manager title because all the good people moved on to better things and you were the last one left. 5. Lots of red tape, slow to get anything done, takes weeks for trivial things, meetings about meetings 6. Paper Architects - as bad as in banking they don't actually know how to do anything, literally one received an award for X years of service and it was painful to even watch him use Microsoft Office, extremely limited and narrow IT knowledge of the marketplace and technologies never mind how anything actually works.