Pros
If you are above average, you will shine, since everyone is hardly at average in terms of talent and ambition, No engineer, no salesperson, no technical support has Microsoft as their first choice. There is no reason to join MSFT if you are top of the line as a professional. But if you can't make it to the Google's, the Amazons, the Spotify's, the fun start ups with high growth potential, you can shine at MSFT, if the grayness of it all doesn't kill you or permanently damage you.
Cons
The systems and processes at Microsoft have taken a life of their own. MSFT is a living example of how technology poorly applied does not empower people but actually hinders them to achieve their full potential. MSFT lacks common sense, lacks innovation. The leadership talks about diversity but its all straight white men which, worse of it all, have been at Microsoft FOR EVER, so they have no clue how to really apply culture change. They dont even know what an innovative culture looks like and that includes the poster boy, Satya, who is the most hierarchical, corporate of them all, despite his "family" story which has been totally overrated.