Pros
You get a chance to innovate, making a difference. The tech industry desperately needs someone to show how you can truly innovate in a way that people get, and Apple does that. Benefits are acceptable, but not great. But really, I'm in this job because I like what I do, not because of the compensation. Lately, that hasn't been an issue though, because of the way AAPL has rallied. Other than the innovative part, I like the mentality of people at Apple. People in general are open to new ideas, and if you push for it, you can realize your dreams here.
Cons
People are working very long hours at Apple, especially in crucial projects where delays are simply not acceptable. It's a job to live for, and if you're not willing to do that, you're probably not going to have a great time at Apple. Raising a family while working at Apple is a hard thing, and I'd recommend anyone thinking about it to either have a partner that is not working, or getting some help taking care of your kids. Also, the compensation isn't great. The AAPL rally lately have compensated for that, but that won't last forever. But Apple management knows they can get away with paying lower salaries because of the hype surrounding the company.