Pros
Pay is pretty good for new grads. Salary has steadily increased as the demand for SWEs increases. Two base salary increases across the board in the last 1.5 years, but not everyone gets it (more on that in cons). Work-life balance is great, but this can vary by what team you're on and management.
Cons
Stack rankings. Even if you're a hard worker, if you have stellar coworkers/teammates, good luck. You'll get rated poorly and get blindsided because you weren't given any feedback throughout the year, hence no real opportunities to improve. If you're rated below strong, aka "performing as expected," you will not get a salary bump, even if the people who've been at the company for 3 months get the bump by default because they're "too new to rate." Work politics are clearly at play when it comes to performance reviews at mid-year and year-end. If you're placed on a team with a manager whose expectations are too high, good luck.