Pros
Its a great company the people are friendly and helpful. We have very good benefits and vacation time when you start at the company you are given 3 weeks vacation time and 2 personal days. Some departments allow their employees to work from home. There are several different sites so you may be able to work in a location close to home. Schering-Plough's campuses are very nice and they have cafe's on site and even a gym at one of their locations. We do have a PMP system so you know how your manager rates you, but often the feedback is minimal unless you are not doing your job.
Cons
Promotions - its a long difficult process to get a promotion even with excellent PMP ratings. It seems to be promised a lot but does not actually happen. Lack of recognition - we have Shinning Performance program, but it is extremely under used in some departments. I feel that when people go above and beyond that they should be given credit. Salaries aren't great and its difficult to get raises - if you come into the company at a low salary it is hard to get "bumped-up". I've heard that 10% is the cap, but I am not sure if that is true.