Pros
Good benefits. Flexible work environment. Lots of interesting and challenging projects. Ability to switch internal teams within Microsoft. Work life balance is good. Job stability, especially during situations like COVID.
Cons
Microsoft is very large company. Getting promotions can be hard, especially if you are in a team with engineers who have been in the same team for 15-20 years. There are times where your job ca be boring. You might have to deal with lots of legacy code. You frequently get lost and hard to get help when stuck with problem. Salary and compensation package is great, but compared to other companies like Google, Facebook and other start ups, it is less. While the offices and facilities are great, workplace feels lonely and disconnected. People stay inside their office most of the time and most of the things are done online without human interaction. This can make the workplace dull and depressing. Ofcourse, most of the pros and cons will vary from team to team except of things like salary and benefits.