Pros
One of the few Product development companies around. Starting off as a junior engineer an employee can rise up to managerial positions fairly quickly. Opportunity to move within groups exists. Oracle India has product development, consulting, release management, technical sales, demo services, sales and many other job roles. After acquiring a host of companies, opportunity to work on many other interesting products like Essbase and Weblogic is also a possibility. Consulting Orgs provide opportunity to travel to different parts of the world. Oracle also provides educational benefits like tuition reimbursement. Oracle's facilities both in Hyd and Blr has a well equipped gym and a decent cafeteria.
Cons
Oracle unlike SAP or Cisco is driven out of the Headquarters. Not much scope for growth. While the growth to Sr Mgr can be quite fast ( if you are good), higher levels of growth may not happen. SAP with its own campus also makes sure that the board visits its India offices every year. Cisco has made sure that senior executives in the levels of a VP are encouraged to relocate to India. This creates a culture here akin to the culture in San Jose. Same is the case with Intel where senior managers were asked to relocate to India.