Pros
Very balanced portfolio of business provides insulation from economic downturns. Complex business units offer great chances to learn strategy. Global scale offers opportunity to move abroad.
Cons
Very old school culture combined with private ownership can present tremendous challenges to experienced hires coming in from the outside. I have watched many struggle to navigate the culture because they did not have the benefit of being hired straight out of college like I did. Pay is very poor when compared to other large organizations but leaving is tough when this is all you know. Very political environment although many will tell you that is not the case. Seniority is valued over results. Tendency to overcompensate on reaching consensus in decision making.