Pros
AT&T offers fairly good pay and reasonable benefits. There is also usually an annual bonus, amounting to 11-14% of your salary for first and second level managers. It's an international company, so there are opportunities to work with people all over the nation, and overseas. As one of the winners in the telecommunications shake-out, the company has a good base of income, and they are also trying to expand into new lines of business, such as TV. There are opportunities for upward mobility and lateral moves, but they are somewhat limited outside of Sales titles. Conservative accounting, so accounting scandal is unlikely.
Cons
Boring industry, very conservative. Raises have gotten worse and worse since I've been there. Last year was less than the cost of living increase. Benefits have also gotten worse. Healthcare is more expensive, and their tuition program, which used to be good, is now very limited. Also, they are very cautious about telecommuting. There is very little room for upward mobility or lateral moves outside of sales. They are headquartered in Dallas, a city totally lacking in natural charms. The new CEO is an accounting nerd. The direction of the company seems solid, but it's too early to tell if Randall will succeed.