Pros
Good benefits (insurance paid, holidays...) although salary is low compared to the market. Sports club and gym. Nice offices near the lake. It's nice to work for the Olympics and your friends will be very jealous, especially if you are lucky to go to the Games.
Cons
Salary low compared to the market, no transparency (there seems to be huge variations between employees based on criteria that are not clear or transparent). Depending on the department you are working for, your life can be easy or very hard. Indeed, I have never seen such a high number of burn-outs. These happen specifically in departments that are very exposed politically. In some departments the hours worked are very high and the pressure always on. It is not clear whether HR is trying to improve the situation. It is a very flat organisation so there are not a lot of career opportunities, and you see people that are in the exact same position since 10 years or more. It is always the same people who travel to the Games, and always the same that remain in Lausanne, which is very frustrating (for those who stay!).