Pros
SAP was a great company with a great product. Its still a very good company, but there hasn't been nearly enough innovation recently to keep it going at the rate that it was. Especially in the Americas, there is huge pressure to deliver results every quarter. This has started to spread to other regions of the world. In general, delivering sales is a very good thing, but not if you continually steal from future quarters. It eventually catches up with you. SAP really cares about helping its customers be successful. There is a genuine desire to keep promises and live up to customer expectations. Benefits and comp are good, but not quite what they were several years ago.
Cons
There is now a really thick layer of upper middle management. Too many VPs and SVPs running around trying to stay relevant. There has been a general lack of innovation recently, so sales reps are running out of new products to sell. As a result, they only thing they can do is play "let's make a deal" which really means they will offer customers such a great deal that you can't really pass it up. Not sustainable. Development seems to have lost their touch. It can take years for products to hit the market, and then they are often too buggy to ship. (BBD!) Too many annual re-organizations. A new set of management comes in and the first thing they do is shake things up so a few people can get promoted and it makes is seem like they are accomplishing something.