Pros
Working at Yale allows you to have a work life balance unlike anything you could witness. If you are in a much more demanding role that work life balance will shift for obvious reasons. The benefits, like most universities, are great. Union members have free healthcare, vision and dental. Working more than 6 years, you can send as many kids you have to any university in the country for half off. Best home buyers program in the country; $7500 towards a down payment and taxes first year, then they pay $2500 a year for 10 years towards taxes if you purchase in New Haven (the catch: New Haven is a dump and the taxes are so high it's not livable (44 Mill rate = every $100,000 home you pay $4,400 in property tax... Ouch!)
Cons
the pay is somewhat below standard if you are comparing to a for profit company. As an accountant/analyst in a for profit company with my years of experience, I should be making about 20% more. If you are stuck in a Union, it is hard to advance to a higher position. Salaries are all based on what others make and "industry standard", plus your years of experience and education. It's all based on a payscale that you can't control or change so don't bother. No bonus, no commission no nothing. Can't advance fast enough to make a decent salary. People don't leave their jobs, meaning no jobs open up that pay better.