Pros
As others have stated, this place is a great place to start. There are some bright people that you can learn a lot from. The benefits are pretty good, and it gets better once you get to 5+ years. They have a great philanthropy program that allows you to donate $1,000 to a charity, and will match up to another $1,000 if you donate as well. This is incredibly awesome in Los Angeles because you can donate to many of the schools that are in need. I feel great knowing I've just helped hundreds of students by getting them the resources they need.
Cons
Politics, cliques, and lack of recognition. It's hard for a company to develop or improve upon themselves if it becomes a cut throat environment. There's a very odd barrier that good workers face, and the only way they can get around it is by playing the game. In the 5+ years I've been here, I've seen a fair amount of good workers awarded more work and longer hours, and a few bad workers awarded promotions and raises.
The work environment is quick to change as well, hence the title. It's part of the culture created by management, and while it could go both ways, I've only seen it negatively affect the company.