Pros
State Farm has a good salary and benefit structure for the area, and the work environment is very good, with up-to-date equipment and training provided as needed. They have more or less eliminated any dress code (at least for the systems buildings), and have begun to offer more flexible work arrangements so the employees can tailor their work schedule with their personal life better.
Cons
Flattening of the job classes has resulted in fewer and less frequent promotions, with the result that often 5-year and 25-year employees are in the same job class, just at different ends of the pay scale for it. Coupled with the increasing reliance on externals (non-employees) to do the work, this does not entice employees to stick around--they get the initial experience and then move on. Morale for the longer-term employees who do stay has dropped because of the lack of recognition (verbal and monetary) for their years of experience.