Pros
Work/life balance and work at home option are most likely the best in the industry providing for increase flexible home life and decreased expenses being able to avoid drives to the office and being able to eat at home office. The pay from my research is near the top of the ranges for each job category and the potential for bonus (variable pay) and awards can be significant. I've seen that there is alo great possibility for career growth & advancement (IF local management support it) and that is the biggest problem as some groups allow employees to transition to other areas and job functions and support education.
Cons
HOWEVER, some divisions of IBM do not have the same level of education funding or management flexibility in growing employees and allowing them to move on. The division I'm in has constant funding challenges and has laid off many US employees, but this causes management to not allow remaining employees to look elsewhere in the company for work or provide for any kind of education funding or time. There is also increased use of Global Resources (offshoring), frequent layoffs, huge differences in culture and management handling of career growth and education. The level of red tape and politics can be massive, but expected in such a large company