Pros
Good salary, free drinks, great on-campus food options.
Cons
I'm going to put aside political correctness because this is a serious matter when considering a company for employment. Outsourcing was always a problem but even more so after Satya took over. Walking through the Commons I always at least half H1B types but more recently they are more of a majority. Sent more emails to foreigners than I did to Americans. Understand Microsoft is a corporation that is heavily leaning towards replacement with H1Bs since American engineers are considered too expensive so expect to be treated like a replaceable cog and discarded as such. There is a lot of outsourcing still occurring so if you can get an offer somewhere else, seriously consider leaving if you value your job security.