Pros
800 pound gorilla in the networking industry. Involved in almost every aspect of communications. Opportunities to be involved in full product development life cycle involving almost any imaginable communications technology. Top performers compensated well above normal market rates.
Cons
Hasn't had competent top level engineering management since 2007. Complete chaos in engineering across all product lines. Fierce internal executive rivalries and frequent engineering executive shuffling make it very difficult to successfully complement projects. Company completes only a small number of the numerous of engineering projects it starts. Business units are littered with un-dead zombie projects that have undergone multiple direction changes and leadership changes. Cisco's new product development life cycle now generally exceeds technology life cycles. It takes so long to develop products that the product technology is obsolete when the product ships. Everything aspect of engineering possible is being out-sourced without out regard to the impact on quality, efficiency, and ROI. Cisco treats its engineers like farm animals.