Pros
If you are the top 1 out of 10, and ready to sacrifice your personal life for the project, you will get rewarded heavily. If you want Onsite, this is your company, others are not even close. If you want to work on latest technologies and do development work, plenty of chances, when compared to the competitors. This company believes in achievers and everyone knows, out of 100 people, there can be more than 10 achievers, rest will be doers. Promotions are very hard to come by after 10 years, unless you prove your worth, which shows why their senior managers are so better when compared to other companies. Middle managers are mostly worthless as they get that on experience basis and they are the root of all politics. There is a reason why this company is No. 1 for so many years, because it does NOT promote mediocrity. Bottom-line: If you are at the top of your game, you will love your stay here and may even want to retire from this company.
Cons
Even if you are better than bottom half, it is not enough, you have to be in top 5-10%, otherwise you will also be treated in the same way, the bottom half gets treated. Bad news is that talent alone will not give you a place in the coveted league, you have to marry your project, erase the fact that you have a life outside office. Also, if you can't go outside India, don't bother to join, they have only one, but a big one, trick up their sleeve, which is Onsite, if you can't avail it, they have no other form of rewards.