Good work/life balance, education benefits, campus resources.
Cons
Low pay relative to private sector, low 401K match, mediocre health insurance, infrequent COLA adjustments or merit raises. Salary increases for senior management are disproportionately large compared to little or no raises for staff.
Understaffed. Every single employee is salary, which means everyone ends up working overtime with no compensation. The workload for each person is that of about 2-3 people. You can never get quite caught up or do a suburb job on each task because there just isn't enough time in the day. Management treats you like a dolt if you can't work 100 miles/hr, but working that hard ALL the time will cause a person to fizzle out.