Pros
Moderate work load, little hectic only during build and test phases. Opportunity to learn all the latest technologies. I went for an interview with another leading company where they were actually using some outdated technologies. Recognition : If you really work hard it will be surely recognized. Diversity in work culture and at the same time you ll find people from same Hometown . You dont get too much bogged down with work. Proper work - life balance.
Cons
There are lot of fields/opportunities available, but you cannot choose them so liberally. If you are in right place by default it will be really good. Else sometimes you will be made to work where you are not interested. Mobility inside TCS is really difficult. Resource Managers are really tough to handle. Employee rating/appraisal - not a transparent one. Too much of a game there. You never really know what will happen with your appraisal. Normalization - curve fitting too much of politics there. Salary sometime you fell its not sufficient.