Pros
There are a lot of great people at FedEx. The comaraderie that comes with being on the frontlines is second to none--facing weather, upset customers, dogs, traffic, late freight, and anything else that comes your way together--and the people are the only reason I stayed for so long. Being a courier is a fun job. It's fast-paced and the day goes by quickly. You manage your own workload (no boss over your shoulder all day long) and you get to meet a lot of people. Working outside and in a physical setting are pros if you are someone like me. It's pretty easy to transfer (domestically only). I worked at five different locations in my time there.
Cons
There have been so many take-aways over the past 10 years that this is no longer a career. It's just a job. With the advent of the contractor model (FedEx Ground), wages and benefits have been driven way down. Pay starts around $16 and maxes out around $25 (with about a 10% variation depending on market location), but no one ever gets there. There are 20 year employees who still have not "topped-out." After nine years, I made about $18/hour. Raises are not based on performance so you receive the same amount as the worst employee. Two of the past six years we didn't get raises and the rest have been 2-3%. In 2008, FedEx discontinued the traditional pension plan. Before, you could earn up to 50% of your highest average yearly wage after 25 years of service. It was replaced by a cash balance plan that pays substantially less. After nine years, my balance was a 14k lump-sum (penalties apply) or about $70/month. What a joke. Healthcare providers have changed multiple times over the past five years and the most recent incarnation is a high-deductible "consumer-driven" plan. Coverage for a family (spouse + 1 kid or more) costs about $400 a month. As evidenced above, there is no union like there is at UPS. In comparison, UPS drivers earn about $32/hour with free benefits and a traditional (defined-benefit) pension plan. Because there is no union, it is very easy to get fired. There is no job security. There is constant pressure to perform. Management is all about numbers and numbers only. Management is promoted from within so there is so much inconsistency in management styles because very few of them have had any formal training or professional management experience. It's very common to hear managers yelling, scolding employees publicly, and saying totally inappropriate things. They will hound you for calling in sick. The common sentiment is that managers are hired for their racial diversity over their qualifications. Hard work is never recognized. You can give 110% each day and never hear an "atta-boy", but the moment you're at 99% or you miss a scan, you will have to sign something. It's impossible to get time off. Time off is bid by seniority and weeks off must be bid at once for the whole year. 25 year employees still can't get the day after Thanksgiving off. There is a bizarre cult of worship for the founder, Fred Smith. Most importantly, you will dread the holidays. To get a full picture of what it's like to work here, check out the FedEx Forum on Browncafe.com