Pros
(1) One stop for all of networking products. You'll find the best folks in industry who have journeyed through the evolution of computer Networking. (2) Some of the folks have rich expertise on software development process and Networking solutions and technologies, and are easily approachable. Folks are smart and ready to share knowledge. (3) Offers a great work life balance, Good for married people or for those wanting to settle. (4) Things are only left for individuals to explore. You have lot of technologies around to explore/learn and gets your hands dirty with. some of the tech-leads and principal engineers are really of great quality. (5) Over a period of time, the technology stack and culture can get imbibed into you so much that you'll get comfort-zoned easily, and I saw many people who left Cisco returning back after a few years, after missing the great cisco culture :-). Overall Cisco is a great company!
Cons
(1) The market correction of salaries for experienced ones is often ignored(though it was brought up in many forums). People who joined 3-4 years back get the same salaries as current college hires/freshers in some of the BUs. Cisco India has less stock options/perks. (2) Your career growth- in terms of position/title can be bit slow or depends upon your senior management (as in any other company), and in terms of visibility grows depending on how many seniors you have in your team. Every company has pros/cons and same thing here. Overall Cisco is a great company, having a high reputation, good to have in resume, offers good work life balance and exposure.!