Pros
Satya Nadella has really changed the company for the better since taking over as CEO. The vast majority of employees now feel proud to work for Microsoft compared to the Ballmer era. Microsoft has great benefits (PTO, 401k match, new caregiver benefit, reimbursement for up to $800 in physical fitness, etc.) and flexible work arrangements. Work can be very rewarding and you have the ability to make a real impact on the world. The yearly MSReady conference in Las Vegas for field roles is quite fun with lots of opportunities to learn and a great way to recharge. Many friendly, intelligent, and hard-working people work at Microsoft. You'll learn a great deal.
Cons
Limited Career Advancement Opportunities For Some People- If you don't live in WA state or nearby one of Microsoft's campuses, career advancement is very tough unless you want to stay in a sales-oriented or 90%-travel position. Difficult and Time Consuming to Move Around in the Company: The internal interview process to move into a new role or organization within the company is very slow (can take weeks or months), not at all transparent, and is a full-day interview experience just as external candidates have to face. Competition is fierce but if you're persistent it's possible to land a new position. Tools & Processes: Employees continually have low marks on yearly polling regarding having the right tools, reports, and processes in place to get our jobs done effectively. I haven't seen many improvements in the several years I've been here and don't expect many changes in the future either. Compensation: While the benefits are fantastic, the total compensation could be much better. I feel that salaries and stock rewards are falling behind compared to other top tier tech companies.