Pros
I was a Java developer here for 6 years. Great for anyone who is looking for flexibility to work from home on occasion. Good pay. Ability to not do much and remain hidden.
Cons
Development used to be reasonably fast moving but over the last few years it's ground to a halt. Infighting between managers means projects are started and stopped. Top priority projects that require weekend work are scrapped. Teams are required to have 60% offshore developers. Many onshore devs end up doing training offshore Infosys teams in Bangalore and Mumbai who develop most of the code while the onshore people fix issues and do support and gather requirements. Most tech is stale, many teams using subversion, lots of SOAP/XML. Lots of initiatives to try to move the tech into this decade but there are too many anchors, both legacy systems and people to allow it to happen. The good developers leave. If you are looking for innovation it's probably not the place to be but if your an average java or frontend dev looking to maintain a steady job it's pretty good.