Pros
Nike is a great place for a self-motivated, intelligent individual to establish a career. While salaries are a bit lackluster in the lower ranks, "total compensation", including benefits, are second to none. Career advancement is readily available to those who actively seek it and career exploration is highly encouraged. Working on high visibility projects and popular product is highly rewarding.
Cons
Nike is a large corporation. As such it is extremely easy for coworkers, including managers, to "go with the flow" and ride the paycheck express. This can be extremely frustrating to those who are motivated, dedicated and loyal to the company. The bureaucracy of business can be difficult to deal with at times. Human resources and management can be a bit too "politically correct" at times and lack strength in dealing with lackluster employee performance for the sake of "fairness and respect".