Pros
Workday has generally a great product and innovative technology. They are on course to become market leaders in a very competitive space with room for growth and expansion. There are some good coworkers to be had with lots of industry and technology experience. Good place to grow your career and explore (especially for younger new grads).
Cons
Pay is horrifically below industry standards (especially for the Bay Area). Even being here for over a year, the promise of a pay raise is just a dream that's teased by upper management and HR (many people can attest and have left because of this). Even post-IPO, many people had hoped that pay raises and compensation normalization would come quickly, as of this writing, this has yet to come. Like many reviews here, unless you were here in the early days, you will not be cashing out a ton of money from the IPO. There are 'in' crowds and 'out' crowds, your experience here will vary by which crowd you get into. The 'best company in the bay area' claim is such a joke. The bagels (which you get sick of), free fruit (which only come 2x a week) do not offset the bad company benefits, lack of any other relevant 'extras', lack of bonuses, promotion, etc. The claims in that 'award' is a lie and is clearly a bribe from HR to boost applicant volume. If you're considering a career at Workday, proceed with caution and come in with very low expectations.