Pros
I like most of my coworkers. I like working in a lab as opposed to having to deal with customers face-to-face, so I guess there's that. Really though, the only reason I'm giving this place anything above one star is because my coworkers are all pretty great.
Cons
As everyone else has stated, the pay is abhorrently low for your qualifications. They claim that R&D is supposed to be "little R, big D" but that makes absolutely no sense. How are you supposed to develop something that you hardly even researched? There is way too much focus placed on the bottom line and virtually none placed on putting out a quality product. I had an optimistic view coming in to the company, but that only lasted a couple months before my attitude got dragged down like everyone else's. The office culture is indeed very unprofessional, but I don't know what else you would expect with pay the way it is. People feel that since the company doesn't respect their needs, they don't need to respect the company's needs. Like someone else said, people do come in late, leave early, disappear for hours, and in general just waste company time pretty frequently. But I can understand the reasoning, if you're only paying your employees 60% of what they should reasonably be making for their skills, then perhaps they feel that you're only entitled to 60% of their time. Additionally, because of the high turnover rate, very few people have sufficient immersion in the projects they're put on to really push these projects along.