Pros
Work/life balance, serious research and development, get to publish papers, very good job security.
I took this job so that I could continue doing real research after college, and I wasn't disappointed. The allowances for work/life balance are very generous so that I don't have to worry about working ridiculous hours or about needing to change my hours to accommodate family stuff or errands. Great people to work with who are happy to be there and are very smart and good at what they do.
Cons
Not easy to move up or get big raises