Pros
Interesting work, fulfilling sector to work in, some great people at the organisation, can really grow and learn a lot if placed in the right areas. Work life balance for most great as people generally set their own hours and are not truly held accountable for delivery and productivity (which, if you are a hard worker, is a negative overall as you likely have to pick up the slack for poor performers).
Cons
Different areas run in very different ways, little to no control over career progression or placement in organisation. Not empowered as an employee, there is a very "grade-ist" culture where the management providers poor examples of behaviour and culture. Organisation is constantly in a state of change. The operational model needs a lot of work, but the processes and models are never clearly communicated. Approach is to paste plasters on issues rather than analyse root cause, changes are not given time to imbed before the next set of changes is rolled out. In certain areas there is a "face must fit" culture where you need to be friendly or liked by certain people. HR is ineffective at managing culture and poor employee performance. Poor performers constantly moved around organisation instead of being managed out. Overall disappointing place to work - very stressful and frustrating work environment, very political and "old school". Does not reflect how most IT organisations operate, very public sector mentality with a lot of red tape and overhead.