Pros
Gym, Sports, benefits, summer fridays. Mid-day workouts. Generally young and active type of people. Lots of smart folks around. Fast paced. If you're young, competitive and smart give it a go for a couple years. Or, if you're in an easy job just let it ride and enjoy the benefits and afternoon workouts.
Cons
HR/TA focus on bringing outside talent (not internal development and promotion). This has led to decline in the culture and collective values over time. Very difficult to advance from within and you are paid less then those brought in externally. You may even be paid less than those with lower titles and less experience on the same team because of this. Students from the local colleges are not prioritized but rather bringing in 'talent' from outside the state. Many of these entry roles don't require more than a bachelors so there's a lot of over qualified people for their position. Creates a meat grinder as the real payoff isn't until you're a Director level. Nike is a complicated organization and new managers struggle because of this. Constant planning (deck creation) and dog and pony shows to showcase strategy (really so people can self promote and look sharp). A lot of self-promotion that happens as it's the tried-and-true way to move ahead. Present well, look sharp and glad hand the right people. Creating 'value' and working hard, while constantly emphasized, is not the game here. Perception is king. Highly competitive to advance which creates a 'popularity' contest. A lot of drinking the kool-aid and thus group think. The mid-tier managers all participate in this to survive and advance. Highly stressful in certain positions (health consequences for many). Best areas to work are in design, product, innovation. If you land in a spot with good people (and manager) it can be great. However, you can easily fall victim to a bad manager or re-organization which leaves you in a bad spot.