Aging and inept software managers. The seat-warmers rule the roost - if you challenge the status quo with new ideas you're marked. Unless you come up with a great idea, which will be stolen and credit given to the "favorite" engineers. This happened to me at least three times in my 3 years there.
Low compensation. Lame benefits. HR will try to lock you into a three year contract, which only Dreamworks has option to terminate. Old school Hollywood hardball negotiation tactics - check the news for "DreamWorks wage fixing".
No opportunity for advancement. Only the golden kids have the good ideas, remember?
Cliques - if you're not in, you don't exist, your ideas don't matter.
Honestly, avoid like the plague unless:
1. You have a burning passion to spend your career as seat warmer in a old Hollywood dinosaur studio.
2. Or you're a recent grad who'd like some movie credits before moving on to the games industry, where you'll actually learn something.