Pros
Access to season football tickets after 3 years of employment. Free education. In my particular group (IT), they were super flexible with schedules and time off, but it depends on the area you work for.
Cons
Incompetent coworkers and managers; unmanaged mentally ill coworkers; inefficiencies; lack of professionalism. Politics. Low pay that it typical of higher education. Depending on your field, advancement opportunities are very limited. Annual salary increases are minimal at best. Often looking to cut budgets - nearly every year. When you speak with employees, they all measure their time there as "I have XX years until retirement." That is the only thing that gets them through the days on their jobs. Very sad. I never saw such an enormous lack of professionalism in one place. Seriously. Avoid like the plague!