Pros
Physically nice spaces to work. Very smart, competent colleagues around the world who are generally able and willing to work cooperatively. Easy to get through to top decisionmakers for interviews thanks to company reputation.
Cons
Completely arbitrary pay and bonus structure. Newsroom management is left to editors, whose HR capacity is often limited to nonexistent. Work-life balance in San Francisco can be fine, but that's not the case in New York or other bureaux where I worked. Theoretically horizontal management structure, but I never had any interaction with higher level editors. Most of my best stories died on the vine as editors dithered -- attitude seemed to be "big stories = big problems." Inexplicable penny-pinching on reporter travel and magazine subscriptions seemed odd in face of extravagant company parties and office spaces.