Pros
Great opportunities to get familiar with the SAP environment. Attractive benefits for the employees. Good for your CV. Good possibilities to build a social network. If you don't want to invest much time into your work and if you want to get a stable salary which wont change significantly over the next 10 years, it's perfect company for you.
Cons
Monetary compensation in the development is not good enough for the newcomers. It takes too much time to get it to the same level as the seniors already have.The salaries do not grow fast anymore. For doing the same job the people get paid differently. Many developers do not have the right education in the informatics, but have the "Architect" title because of the seniority. It is no matter how strong you are and how many responsibilities you take over, the manager does not have any budget to increase your salary significantly, because all the budget is distributed yearly over all the people nearby equally. If you are strong developer with good social skills, stay at SAP for a couple of years, after that look around, there are lots of companies which pay for you significantly more.