Pros
Stable company with solid financials, lot of position options which give you the ability to change your career direction based on your needs, because of variety of position. This can give you a lauching pad to change companies in future. f you are lucky to get a good manager that will shield you from politics- then work can be fulfilling, interesting and easier to execute upon. Good benefits.
Cons
Not an innovative company considering over 7B in R&D, highly political and territorial. A product and engineering oriented company with poor understanding of customer needs - that is my MS is alway second to market in everything- it follows others. I can hardly think of any product which MS has taken to market first. Poor product quality overall and monopolistic attitude of bundling is a hurdle to quality as well. Mediocre salaries.