Pros
The variety of departments allows employees to sample many positions. The training opportunities are plentiful. The culture allows for people to make mistakes, and recover from them so that careers can be salvaged. Compensation is good for people who are average or above average in intelligence. They are supportive of a diverse work force, work at home (to a point), and flexible work hours (to a point).
Cons
Having experienced many departments, I can attest to the following: Long Term planning jobs are safe, but dead end jobs; Marketing jobs are high reward with access to greater opportunities, and more probability of layoffs. IT is a sweat shop, and most employees burn out. In Finance you work hard, putting in long hours, but the work can be interesting. However, Finance is detached from the operations of the business, and the employees there are usually snowed by the people running the business. The Company is still undergoing a change from the joining of the Wireline and Wireless organizations. Since Wireless is now responsible for approximately 80% of the revenues, the former Wireless employees feel entitled, and superior to the Wireline employees. Working in the Landline side of the business is thankless. Finally, if you are in the top ten percentile of performers, you have to compete for very few spots, and if you are not rewarded within a reasonable period of time, you should go elsewhere. This is why Verizon is a great place to START a career.