Pros
I had the opportunity to work with some of the smartest people in the world. The pay and benefits are still pretty good, although it looks like that's changing.
Cons
Management. Anyone with any scruples got out of management shortly after the "stack" ranking was implemented. Those who are left would as soon stab you in the back as look at you. They look out for their buddies, and anyone else has a target on their back and is fair game for the "bottom 5%". This used to be a fun place to work. Don't get me wrong, it's definitely a tough job and you have to know your sh*t. But, there used to be social events, beer Fridays, pizza, free t-shirts and other assorted swag, etc. All of that is gone, and people spend the majority of their time just trying to make sure they don't get "bottom boxed". It's all about who you know and how you present yourself these days, and all the "fun" has been stripped away. The culture nowadays is literally toxic, and people spend far more time worrying about the review model than actually being able to do their job. The company isn't at all cutting edge anymore and is so wrapped up with red tape that its nearly impossible to get anything done.