Pros
Qualcomm is a great place to work. Benefits are great and you learn a lot. Every 6 months review and bonus, stock option, salary raises are good also. There are some extra-ordinary smart minds working at Qualcomm coming out with extra ordinary cutting edge technologies that is used by almost everyone who uses a mobile phone.
Cons
Life can get very stressful due to company corporate politics, Bias and unfair practices. But that is there in any company you work. I found many managers/employees who are very arrogant and sneaky that makes the atmosphere very hostile sometimes. I have seen several times that my internet activities (checking personal emails, listening to music etc at work) were monitored remotely by my manager and I was informed not to do it. Most of the employees are on H1B Visa and there is a lot of manipulation by the management due to this constraint. Lot of duplication of work is common practice.