Pros
Many different technology stacks, reasonable work/life balance, little to no backstabbing or peer politics, pay on par with industry averages. Free 1/2 day summer hours program is excellent if one's manager embraces it. The company is actively attempting to move into more modern tech practices, but turning a corporation is like steering a battleship...it takes time and great effort.
Cons
MST is organized in "business units" and each one has its own personality and operating style. One's experience can differ completely depending on BU assignment. Access to newer technology is completely based on one's BU, its funding, and its managements' willingness to take risks and innovate. Company has a retail mindset rather than a technology focus. IT employee benefits are the same as the rest of the retail organization and are quite expensive. Very few perks compared to modern IT companies. No telecommuting allowed.