Pros
PepsiCo is a great place to work! The thing that makes it different than other companies is the PEOPLE. Very innovation driven and fast paced environment. The brands are well recognized and everyone has a connection to them. When at holiday parties and the subject of work comes up, people light up when you tell them who you work for because they are typically such a fan of one of the company's many products. They immediately know the company you work for. I have worked in the past for companies where it takes a few minutes to explain who you work for. Not fun... It is very entreprenuerial and sort of like working for a small company in a big corporation.
Cons
Innovation very often leads to change. PepsiCo is constantly adapting to meet the future needs of the business. This tranformation sometimes is foriegn to new people who look for things to always be the same in their job - day after day after day. Change is usually good, but if you are like Milton in the movie "Office Space" and do not welcome or adapt to needed change, then look elsewhere.