Pros
In my position, Micron has been very flexible with my schedule as parent of two and a working spouse. I'm fortunate that I'm not required to go to early morning meetings, as I have to drop my kids off at school in the morning. It's never been a big issue and our lives at home would be much more complicated if it were an issue. The work is (usually) fast paced and challenging.
Cons
It's a cyclic business environment and we seldom make a profit. Stock options and employee stock plans are better on the vendor side of this business. Everyone is always aware that we might not make through the next downturn (through RIF, jobs moving overseas, etc.). I've been aware of this since I started working in this business 13 years ago...I'm still here, but I still think about this all the time.