Excellent fundamentals, challenging and interesting, good culture, high expectations, sub-standard pay.
Pros
It's easy to understand where the business earns its income, which usually, but not always, translates to your specific job. No wondering where the company's revenue is coming from and how your product fits into that -- even if that means you're explicitly working on "table stakes" features or free services that add value for the customers. The company cares about social issues, environmental issues, etc. Microsoft is regarded as one of the "least evil" big tech companies to work for, but you "pay" for that by taking a lower salary. Great benefits, but on par with other "big-tech" / "FAANG" companies. Generally values work-life balance.
Cons
The expectations can be high and maintaining excellent quality of services at the limit of the team's scope isn't enough to get promoted, even if there's no work on your team to grab to grow your career and secure a promotion. This means you should always be looking at how your career can grow and whether to seek another team at some point if promotions get to be hard to come by. Company culture doesn't necessarily work its way into all teams from the top down. Middle management not encouraging the ideal workplace culture can make it difficult to bring it from the bottom up, but many employees and managers close to the products care enough to overcome that hurdle at times. When you work on a product that's a free service not specifically tied to a revenue stream, budgets are tight. If you want a quick path to promotion find a team with broad customer scope where the line between customer revenue earned and the code you wrote is easy to draw. Other arguably equivalent "value adds" to the company's brands and services that don't directly drive profit are harder to sell your performance. Work-life balance may suffer if you're on-call, depending on the team.
