Pros
The benefits package at Chevron is literally unmatched in any other company or industry that I have seen. I had good managers and bad managers while there. There is mobility there and opportunity there, but they base this on a two year life-cycle which is not ideal in some cases. They put a high regard on development and have a well developed self-improvement program. Chevron has a very specific culture which can either be a good thing or a bad thing. I found the culture rewarding in that it strongly focuses on safety and health, but I also found it annoying in some ways for those exact same reasons. It is hard to describe until you are in the midst of it. But Chevron has a strong culture, and they take it seriously. Most organizations I've been with pay lip-service to their culture, Chevron does not--their culture is taken seriously. Working in IT, I've never experience a good work/life balance in my career, however Chevron has been the best company I've worked at to date for this balance.
Cons
It's a very large organization which means it's somewhat bureaucratic. It actually operates as a cooperation which is mostly a negative because it is actually many independent companies working under a leadership organizations (leadership directive?) which means there are many misses in streamlining and drastically increases silos within the organization. Because of longevity of the people that work for the company (a good thing) there is a lot of mindset on outdated logic, process, and procedures, although Chevron recognized this and has been making conscience effort to migrate this and adjust this mindset. There are a lot of restructures and reorganizations within the company as the market for oil constantly shifts and adjusts.