Pros
There are a number of great applications to learn and grow from as well as the people who developed them. Work/life balance is good depending upon the team. If all big organizations are as bureaucratic then this is a good place too.
Cons
Innovation has stopped. It seems there are more people monitoring development than actual developers. Roles have been defined so narrowly that there is no accountability for quality. Applications and processes are produced in isolation, that is, it appears the end users are never involved in development of a solution but are required to use it. Blame is more important than solutions to an issue. At least three reviews have to be made to different groups before a fix to an implementation error can be made. And pray to God a release did not cause an outage of any kind... Processes are more important that fixes, or so it seems. The word "defect", once reserved for manufacturing processes, is used here for "human error". You need thick skin to work here as a developer. It could be true at other places as well, but this is the first place I've worked in which it is used.