Pros
If you start out as a craft empliyee and choose to fo into management you can still retain your seinority in your union as long as you continue to pay dues. It acts as job insurance so if somthing happenss, like if you are laid off you will always be able to back to youe craft. Also, Railroad Retirement, the only place you can still get a pension, what more is there to say.
Cons
24/7 company. It can be very difficult to manage your work life balance depending on your position. It is easier if you are support departments at company HQ in Fort Worth than in the field offices closer to the action. Also no cost of living adjustment, in the Midwest you will live like a king, in a major West coast city you will barely afford your rent or mortgage.