Pros
Benefits are generally great all-around. The campus itself is quite nice as is the academic atmosphere. Can't beat the location. You will have your position until retirement if you choose to stay in it. Really great for those who just need a 9-5, stable job so you can raise a family or have a life outside work. Some of the professors are the most interesting folks you will likely ever meet.
Cons
Get used to the idea of "do more with less". Never expect to be rewarded for anything. All positions on campus are essentially dead-end. Don't expect pay raises or promotions. The higher ups in the chain don't care about you or what you do, and you will be lucky if your direct management does. No one really seems to care on campus and those that do are just put down. For as many hard-working employees, there's 2-3x the amount of lackluster employees. Management is filled with lots of egotism. There's a LOT of negativity on-campus from employees, try to work around it or ignore it. The Union does protect those negative and lackluster employees which is shame to those who work hard and strive for more.