Pros
I worked in the corporate office (rather than on a property) and really enjoyed my coworkers. We got bonuses every year I was with the company and when the housing market was "hot" I had the opportunity to learn a lot about how we did business and to travel to different offices to implement projects.
Cons
Senior management can be too silent on where the company is headed. I don't think that we ever had a clear vision or mission statement in all the years I was there. When the market tanked and money got tight, we heard nothing substantive from senior management despite round after round of layoffs. And yet they spend boatloads of money on consulting service.
Also, there were many times were information was trapped in the silos of individuals who had been with the company forever and it was difficult to get it out of them.