Pros
Top-notch people. Enormous scale of operations. Attention to detail and operational excellence very much appreciated. Excellent project management and resource planning. Advanced technology. Adequate work-life balance. Competitive pay. Good, conveniently located offices. Somewhat flexible work schedule.
Cons
Rather strict top-down management. Natural conservatism due to the nature of the company business and scale of operations. Cyclical demand for engineering talent driven by "big bang" business initiatives. Highly political environment, natural for a large hierarchical organization. Consulting companies sometimes distorting the company culture by caring less than permanent employees about the long-term business consequences of their decisions.