Pros
The one thing no one can deny Wayfair is that they have a nice office in a great location. It's huge and you can sometimes get stuck waiting in line to get to work but the office is great. While the Talent Acquisition function at Wayfair is large, the teams they support are actually what make the role interesting. The recruiting team itself is not doing anything all that exciting or innovating. On the business side, there are a lot of really intelligent people that work on some interesting things.
Cons
Due to Wayfair's hiring needs, teams are vertically focused so there is no diversity to the work that you are doing. The teams are basically just working off a hiring queue and fill different roles with the exact same type of candidate (probably a consultant). The teams have extremely high standards but Wayfair is not willing to pay for the type of talent that they want. Not only are Wayfair's salaries low, they offer extremely low raises as well. No one can get a raise larger than 10% when switching roles internally (even if that means you make less than someone else in the same job). Several people were given raises of less than 3% last year which does not even cover the cost of living adjustment from year to year in Boston. Lastly, there is a lot of turnover. Expect to have several managers during your time there.