Pros
Stable company with great products in a good niche that they dominate. Excellent working environment and facilities. Cafeteria, Friday cookies, and summer events are nice perks.
Cons
Not a great place for innovation or creativity. Need to do everything "in-model" - meaning in line with the defined "best practices" that have existed for years. It's not a place to come in and try to change things. The place is rigidly planned to the nth degree and someone coming in from the outside needs to take that into account. One needs to learn the MathWorks way of doing things. It's not all bad, but step out of line, make a request of something not expected, and the management will step in to ensure conformity. It's a lot like the movie Pleasantville - everything is very pleasant and neat and orderly. Underneath (not in core engineering, but in other groups) there's often a note of desperation in the closed, rigid, conformity, and the endless paralysis of analysis to make even the smallest change.