Pros
Wonderful campus makes this easily the most relaxing place to work. The management is generally well organized and proficient. Jeffrey Katzenberg (CEO) seems to care about the employees inasmuch as any CEO can.. He is frank, usually, with information and tries to reward employees for a job well done. Overall, DreamWorks has the best ratio of "nice" people to work with. Also, the base pay is about 20% below industry standards, but they try to compensate through bonuses, free breakfasts and lunches and lots of gifts, incentives, etc. (free screenings, art classes, parties, free art books and DVDs when a movie releases, and the union health and pension plans are outstanding).
Cons
There is a bit of a problem with some of the mid-level management. Although there are many good managers, there are a few who run unchecked and make life miserable for those they manage. A good 360 degree review process would greatly help alleviate this issue. Also, in recent month, the whole stability aspect of DreamWorks has been compromised by large amounts of layoffs. The path for moving into supervision roles is unclear and seems marked more by politics than accomplishment.