Pros
You work with some really smart people and can learn a great deal. With the right manager and team members, you can really grow personally and professionally. The majority of the projects I worked on were cool projects that impacted literally millions of people. Compensation and benefits are decent, if you stick around long enough.
Cons
There is a reason why on average, people only last a year. They tend to run you into the ground, not a lot of work/life balance. I, as well as many other employees felt like their stack ranking review process was detrimental to team building, as people at times turn against one another in order to make themselves look good during review time. Management is hit and miss at best. I had a few really good managers and I had some that should never have been put into managerial positions. I saw quite a few horrible managers at Amazon. Just because someone is a good individual contributor, does not necessarily qualify them to be a good manager. A bad manager can cripple your career at Amazon. The other frustrating thing was the amount of time spent in meetings, we had meetings to discuss meetings; often they were a huge waste of time. Salaries are ok, but a good chunk of your compensation when you start is in restricted stock units, that take four years for all of it to vest. Most people only stick around for a year so they don't have to repay their signing bonus and then quit. They don't stay long enough to ever see their RSUs fully vest, therefore Amazon doesn't have to pay out that money.