Pros
The benefits were actually good, although definitely got worse over the years. For those whose priority is work-life balance this company is perfect. It was a true 9-5 in the two departments where I worked.
Cons
Where to begin. (1) Upward mobility was pretty much impossible. One reason for this is that the job is so comfortable that no one leaves, so you most likely end up stuck in the same role for years. (2) Being a large organization, it ends up running like a factory where you do one thing only. I knew many people that had spent 10+ years doing one function. If you're hungry and have career aspirations, you'll find yourself very frustrated. Also forget about applying internally to jobs. No help there. (3) Salaries.. All I'll say is that in the 2+ years since I've left, my salary has doubled. Average annual increases were 1-2%. Since I was in the "exceeds expectations" bucket, it was 2-3%. My first year at my new firm, it was 9%.