Pros
Excellent campus and work amenities. Interaction within teams is very good and for the most part there is a lot of bright and talented individual contributors. VMware also does a lot for the community and in the spirit of Paul Maritz believes in "giving back more than you take". VMware is attempting to get back to a lean and mean state but it might be to little to late as the competition is becoming fierce in the Cloud and Software Defined Data Center arena. The current CEO was brought in to help right and repoint the ship, the outcome of that is still unfolding.
Cons
Organization is very siloed. Large organization mentality is setting in. Room for growth is non-existant, feedback from management is also zero. As an organization VMware has lost its agility as it has grown (almost to a debilitating point) and at the same time not reinvested in its systems and framework for a growing organization. This creates a poor environment to actually get anything done. Annual review process is very lengthy and cumbersome as the mgmt. has been working on reviews (and everything that goes with them) for 6 months.