Pros
Pay took some time to rise, but when it did, it went up fast. Raises were often in the range of 8-10% a year. Benefits were very good, and the sick time is unreal. When I left I had something like 70 sick days a year. That's not a misprint. Naturally you couldn't use them all without some fallout, but employees at State Farm have no complaints on the number of sick days given! Co-worker competence is good for the most part. State Farm did hire many new people to staff the inside jobs, with corresponding learning curves, but most people are good at what they do. Management is generally good. And generally they do look out for you. Not because they like you, or because they want to, but because that is the State Farm culture -- take care of your own.
Cons
The only downside on the property claims side is the separation into units which handle claims both inside and outside. Back in the day, all property claims except for minor ones were handled in the field. That was good for the insured's and good for the claim representative too (lot of flexibility). Now, only the large loss and task people go outside. That is a shame. Eventually they will go back to having one claim rep handle the loss from start to finish, which is what insureds like. Also, another downside would be for those interested in moving up the ladder to management. Because people rarely leave the company, and they never lay anybody off, there is little room to move up absent somebody dying.