Pros
Free coffee and Hot chocolate. It's very hard to find much positive. The pay is average, but dependent on things not related to your job position.
Cons
They follow the philosophy that lots of management makes a better product. People who have run operations organizations typically run the development organizations. These people are very short sighted and lack the experience to run a truly world class development organization. Software Development here is more akin to a third world sweet shop. Too much process and procedure to get much done in an efficient manner. Cronyism is run rampant. Vendors are push down to development teams through the vast number of VPs in the organization. Vendors tend to have high rates and no skills. Literally most kids out of college with good leaders can do much better, faster and for less cost. Simple projects in other companies that take 4 our 5 people to do in 6 months, take a team of 40 to do in a year. Poor quality code and workmanship is everywhere.