Pros
When I started at Sage, then Timberline Software, the company still had a small company feel to it. Developers were smart yet relaxed. We worked hard and we played hard. Met a lot of great developers working on builds and installs and teams were tight knit communities where everyone was focused on achieving the same goals. The culture was one of the best points about the company for most of the time I was employed there.
Cons
After Timberline merged with Sage things slowly started going downhill. Culture will change during mergers and to be fair the changes were slow, but it seemed they were all in the wrong direction. The management layer was adjusted nearly yearly and with each reimagining came less and less connection and understanding of what developers on the floor needed. The company slowly became corporate in feel and it didn't feel like anyone stayed for anything but a pay check. Leadership from management was generally ineffective and started to lack simple integrity. I was routinely called out for trivial mistakes and I wasn't the only one. By the time I'd left I was working 60+ hour weeks, raises and bonuses were small or non-existent, and moral pretty low. Indeed, in subsequent years I've learned many of the smartest folks I'd worked alongside left as well. Ten, fifteen years ago it was an amazing shop. Now?