Pros
GE's reputation is one of the best in the business world, and there is a certain level of prestige that goes with working there. Because it's a big company involved in different industries with many locations, there are many opportunities for career development and movement within the company. In other words, it seems like a place where you can find a niche that meets your career aspirations and other work/life needs without having to change employers. The benefits are also good. One in particular I've used is the extensive amount of employee discounts available on many different products (not just GE's). This enabled me to purchase a new car from Ford at a substantially lower price.
Cons
Some people may not like being part of a huge organization. It's definitely one in which you're expected to be in charge of your own career and do things for yourself. I would say there's not a lot of hand-holding (which I happen to like). Also sometimes the bureaucracy may exhibit some inertia at times, but that's to be expected in a company this size. People coming from a small organization where they had complete control over every aspect of their business may experience a little culture shock when faced with now having to deal with centralized functions such as finance, HR, supply chain, and IT.