Pros
This is a great place to start and grow your career. Whatever your job function, there are always opportunities to grow both personally and professionally. I was able to find several great mentors, many of whom became personal friends. Very relaxed and fun work environment. I genuinely enjoyed going to work each day. NI as a company, and every direct manager I had, genuinely care about their employees as a person, you're not just a resource/number. Very nice campus and location in Austin. Very good overall benefits package.
Cons
Very consensus driven. This is both good and bad. On the one hand, everyone's feedback is gathered and considered, but on the other hand there tend be 'lurking approvers' who seem to have made a career out of torpedoing decisions at the last possible moment. Id expect this (and worse) at most workplaces, and it is fairly easily managed once you pick out the repeat offenders whose ego tends to make them quite predictable. Promotions beyond a certain level become more of a popularity contest, dependent on how much your manager 'cheer-leads' for you.