Pros
You'll get terrific exposure to not only a broad range of projects, but also high-profile ones. As far as design firms go, the name and brand are well known and respected. It's also a well-oiled machine with extensive systems and resources at your disposal. The Gensler Research Institute, an internal team dedicated to design related study and analysis, regularly publishes findings that inform and enhance your designs.
Cons
As with all large organizations, there are politics and a general sense that you're a cog in an enormous, money-making machine. The company does have a reputation for quantity over quality of design, the hours can be long and out of control, and those who live to work tend to excel over those who work to live. The usual billable hour stress and dysfunctional client-first-always interaction models are present here. Uniquely, there is also a massive amount of event/initiative/seminar/learning session clutter. This is due to junior staff clamoring for attention and promotions, freely giving their unpaid time over to events that they develop and roll out. While the welcoming attitude towards this entrepreneurial behavior is a good thing, the end result is an exhausting, ADD-like atmosphere that distracts from core design work (and by extension, your life outside the walls of the studio). While the ESOP and retirement plans are great, base compensation can be fairly low and noncompetitive, particularly in comparison to working on the client-side. Regular bonuses exist, but can be unpredictable and should not be replied upon. Management can also avoid dealing with unconstructive behavior, tolerating it or avoiding it for far longer than they should, particularly if those bad actors are lucrative and bring in work.