Pros
Good benefits like health, cab facility (payed), subsidized food. MS Brand and access to their software and resources.
Cons
Highly political environment. Teams do not cooperate with each other. Spineless leadership that cannot get things done from redmond/bellvue for products to succeed. They have no say in product strategy. Dumping ground for dying products and their maintenance. In general the quality of work is pretty bad. Work is invented and features are done for the heck of it. Functionality demanded or desperately needed by users takes a back seat. Do not expect to learn any MS technologies as you will be fire fighting from one crisis to another. In between there will be new projects which you will ramp up on or transition old work to china. Frequent project and manager changes is the norm. You will not rewarded for hard work, skills or delivery of results only for "Impact" and "Visibility" as determined by leadership. Career prospects are poor here. If you are in display ads then work life balance will go for a toss and do expect any appreciation for the effort you put in. If you are developer be prepared to test and do ops work since combined engineering is used here. One has to be extremely good in juggling multiple things. Program manager role has got diluted. The viability of this center remains in doubt.