Pros
The pay was pretty great for a starting developer. Also stock options.
Cons
Everything else was absolutely terrible. Cliques form and if your not in the clique then come "calibration" month, expect to be dinged for the most asinine things. Watched 2 people get fired because they were in the longue room and were 5 minutes late to a meeting... A meeting even the manager came in late to... cause he was in the lounge...and that's how he knew those two people were there. Yeah. The entire establishment is "rules for thee, not for me". Got out as soon as I saw what was going on to my coworkers and never looked back. Read up on stacked ranking and calibrations. PayPal VERY AGGRESSIVELY pits their own employees against each other and the managers sit back and joke about it. They think its funny and game.