Pros
Some of the best benefits I have ever seen. Top notch 401k, healthcare, unlimited sick time, and above average vacation. Taking time off was never questioned or denied. A very fast pased enviroment with always something new to keep you on your toes. You'll never be bored and you get out what you put in. You will be rewarded for being a top performer.
Cons
Being a top performer means putting in nights and weekends. There can be endless meetings (I have seen a scheduled 6 hour meeting before) making it hard to find time to get any actual work done other than at home after hours. Throughout the department of the company I worked in there seemed to be a lack of sense of identity. There was no ownership or pride in the software being created. All work was done soley to keep the people funding the company happy. All research was somehow expected to produce fully functioning, tested, software. The "time, quality, cost - pick 2 triangle" was really a "we want all three triangle". Requirements were not defined or changed drastically week to week. Extremely tiring place to work for an extended period of time.