Pros
Very smart people. Most people have at least M.S. degrees in Engineering. Top schools. PhDs very common. Average IQ is probably 130+. EDA arguably has the most challenging technical problems of any high-tech industry in the world. Cadence is also generally very good at accommodating telecommuters, flexible work-schedules, etc. Employee Benefits (Health, 401k, Stock plan) are as good or better than most large companies.
Cons
Very tough business. Electronics/Semiconductor companies aren't growing, not making much money. Therefore there isn't much money to "trickle-down" to EDA. The big EDA companies are like starving tigers fighting "tooth and claw" in a shrinking jungle. Meanwhile new EDA startups are popping up all the time (a lot of passionate PhDs out there!)