Pros
They have an excellent technology training program for folks straight out of college. New trainees are all brought together for a few weeks to train toward a common minimum denominator so they all hit the ground running, and they crete an excellent network throughout the firm. In my experience, responsibility assigned has been based on merit, so there's decent recognition of achievements and contributions. There's also a lot of support for mobility within the organization if one feels they're stagnating or want a steeper learning curve. The compensation (up until last year) was a pretty fair mix of individual performance and the larger team and firm achievements.
Cons
There are a lot of very bright people and it becomes quite difficult to differentiate yourself if you're in a large team. Promotions are hard to come by and you need to constantly push your supervisor for consideration.