Pros
Working at Rice is good because of the name recognition and the high (although in my opinion misplaced) regard for it. The pay and benefits are good, especially when compared to other universities (especially state universities) and to other non-profits. Most of the jobs are also located on the campus, which is nice, compared to being stuck in sky scraper or in bustling part of town. Another nice thing about being on campus is that there are many lectures, cultural events and other activities and working there makes it convenient for you to take part in them. One benefit that often goes unmentioned is that employees can borrow books, DVDs and other materials from the Fondren Library.
Cons
Rice has a lot of departments, so the management may vary from department to department, so my experience may not apply to all departments and divisions. I find little to no opportunity for advancement, and no training, mentoring or career development. The university has many toxic, backbiting employees and nobody wants to take responsibility and be accountable, because there is so much emphasis on blaming. Since there is no policy and no coherent organization and no management that can effectively direct, blame can be placed readily and arbitrarily. CYA seems to be the biggest part of one's job, not just for oneself, but for the department director(s) and the department collectively. The university seems mostly concerned with getting corporate donations and will do just about anything to get them, and, for the right price, will sell off the KTRU transmitter, demolish the Art Barn or do just about anything else. To be fair, universities need money to run, and getting it is more and more difficult. However, Rice wastes a lot of money on over paying directors, deans and overrated faculty.