Pros
Good benefits (although these are being/have been eroded), good work life balance if you are in the right area, some great people to work with (although many of these people are fed up and leaving), very interesting clients and work if you can get it.
Cons
Very poor communication between workforce and senior management. Company will force graduates into roles entirely unsuited to their skill set (a chemistry Ph.D. ended up doing manual testing of the "click button A, click button B" variety, for example) and most are too naive to leave. Don't believe the lies, the role of your dreams is not coming, I saw it happen much too often to friends I joined with and people who joined after me. The company is currently outsourcing a lot of the workforce to Malaysia, which with a seven-hour time difference, language barriers, and lower skill levels required (they seemed to focus on creating the required headcount rather than recruiting experienced professionals when they stood up the delivery centre) so a lot of work for people there now is just managing the constant problems caused by the people the work is being outsourced to. Not very satisfying work.