Pros
High Salaries
Decent work/ life balance
Annual bonus (10-25% of salary depending on job grade, college hires =10%, mid-career = 15-20%, managers, executives and principal engineers = 25%)
Outstanding Benefits:
401K company contributions (not a match, they contribute regardless of your contributions): 0-1 yr: 0%, 1-5 yr: 2.5%, 6-9 yr: 5%, 9+ yr: 10%
Plus a defined benefit pension plan (above and beyond 401k benefits)
Vacation 0-4 yr: 2 weeks, 5-9 yr: 3 weeks, 10-19 yr: 4 weeks, 20-29 yr: 5 weeks, 30+: 6 weeks
Many opportunities to advance, change careers and work locations.
Cons
Highly competitive co-workers, hard to stand out
Jobs are shed when oil prices go down (good severance packages, though)
Somewhat stressful pressure to deliver and cut costs
Not a nimble company, decisions are made slowly
Management is out of touch