Pros
Salaries/benefits. If you define your boundaries, life/work balance is respected and encouraged. AT&T is THE leader and has so much untapped potential... mostly because of the need to update it's corporate culture and adopt a new, progressive management style.
Cons
So big, makes change slow and cumbersome; but change is constant and frustration can be too; organizational communication is often lacking and change is made with no input from 2nd/1st level managers. It's a dictatorial management style that still drives the company. Unfortunate. We can be GREAT - but need to look at unneccessary and excessive layers of management. Keep people based on talent, contributions, effectiveness - not politics. Build an engaged, innovated, progressive culture that allows the enterpreneurial spirit to live and where people are rewarded based on their work. That takes trust - up and down and across the board. We've got a lot of work to do in that respect. (Too many mergers - too many insecure, threatened managers in the midst of endless reorgs and downsizing. Hard times.)