Pros
Heavy emphasis on personal growth such as leadership skills, managing your career, and navigating through the company. The company itself is very reputable with well-known brands across the globe and a long history of success. Even if you decide not to stay, the fact that you've worked here is good experience to have on your resume. Non-R&D functions have great mobility and recognition. If you consider P&G as a non-Engineer, the commercial functions are by far more rewarding both professionally and personally.
Cons
Advancement is difficult if you come into R&D as a researcher. The ceiling for advancement is typically 2 levels up. Ironically, 2 levels up is exactly where B.S. Engineers come in as a starting level. A person coming into the company with a Masters in Science starts 2 levels BELOW a Bachelor's Engineer. A Ph.D. starts at the same level as a Bachelor's Engineer. Almost all R&D upper management has an engineering background and perpetuates the mentality of engineering equals superiority.