Pros
If you have no ambitions and enjoy the lifestyle of a small midwestern town, this is your life. You won't get fired since we have the lowest turnover, but you'll work with a lot of mediocre people and your boss (who came from the ranks) really has no clue what the real world is like. Get used to life that has passed this company by 20 years ago. We still talk about affirmative action! (I didn't think we used that phrase anymore)! And cost of living increases!!!
Cons
If you truly are a high performer who has excelled, you will not be tested but instead quickly learn that you are stronger than your peers. While at first, this was a great stroke to the ego, I realized that I missed having a normal conversation with someone who I respected, and knew what they were talking about from a technical standpoint. No one really knows anything about their industry, but can freely talk about the next kid's soccer schedule. No sense of urgency or the market place. If I were ready to retire, this is the place for me, but unfortunately, I have a few years to go before I can even contemplate "coasting." Everyone I meet is friendly, but ironically, that's the issue. We promote based on relationships to an EXTREME. If you aren't the decision maker's neighbor, former classmate, or relative, good luck trying to stand out based on your performance. We are still tenure based so even if you've saved the company or introduced some fantastic ideas, you'll get a token $25 gift or a special bonus of about $250, but you'll have to wait in line for the next promotion which WILL be based on your tenure first and relationships second. Not even sure if performance will enter into the picture, but it will be claimed that it is. By the way, I've been here for over a decade, and only remain because of my kids.