Pros
Compensation is good with annual bonus and long term incentives i.e. stock plans. Pension is rare in a public sector company and J&J offers one. There are some wonderful and talented people who are dedicated and passionate. Potential for some very good experiences but highly based on your manager and area of the organization. It can be a good company. Avoid the Medical Devices sector like the plague.
Cons
The CREDO is nothing more than some words carved in granite as most leadership ignores most of the tenants and act in direct contradiction of them. Employees are encouraged to speak up however it's window dressing as there most definitely will be ramifications for doing so. The culture in the Medical Devices sector is toxic and leadership is extremely poor. I can't speak for the Pharmaceutical or Consumer sectors however. Leaders who implement failed strategy after failed strategy resulting in poor growth and reduced revenues just get shuffled around into different while they constantly cut lower level employees to compensate.