Pros
The benefits are very good, and the salary is competitive. The whole organization has moved to Agile so this is a pro in terms of new opportunities and more challenging projects coming through the pipe faster.
Cons
Their is NO job security. Layoff is very common, especially in IT, the feeling is that you are expendable. When a new CEO/CIO comes in, they do massive layoffs. In fact, after you are notified of layoff, they will send out notices if you can refer anyone to fill your position. If its a relocation issue, they do not give you the option of self-funding your relocation so you can keep your position, but will do it for some if you know the right people. The organization nor management provides any help in redeployment or helping you get a seat an interview. Your on your own. It is all about who you know, so even though you are the right fit you will go through the process and they still have a friend in mind that they are going to fill the position with. Good managers are very hard to find, asking questions is frowned on so you have to find a way to figure out the answer without management knowing or you get penalized. The culture is to throw your peers under the bus, to get ahead.