Pros
Fantastic work life balance, first year employees earn 3 weeks of vacation, plus 2 weeks of sick time. Vacation accrual increases by 1 day per year of service to a maximum of 22 - that's a whole working month! Company is undergoing a long overdue shift to Agile/SCRUM and product oriented teams. Long string of record profit years, which increases the already generous short term incentive pay (bonuses). Very diverse IT staff where diverse opinions are valued and most teams have a close knit and friendly working relationship.
Cons
Lack of appropriate authority delegation - this is both a function of longstanding culture and a lack of formality around delegated authorities, both of which are being addressed and changing rapidly for the better.