Pros
Entertaining and often exciting environment. You will see EVERYTHING at some point. Anything and everything from purse-snatching to a shooting to extremely bizarre customers. I consider this a perk. Opportunity to meet a large cross-section of society, and learn to be patient and polite to people from every diverse background possible. Through experience, one can learn a lot about customer service and a little about sales if one chooses. Many rewarding exchanges with customers if you treat them right. Management is generally good at giving you your requested days off, provided that you request them at least a month in advance. Many fun, interesting, and friendly co-workers, depending on your store and department. If you don't put a target on your back with management, or steal of cuss out a customer, it is very difficult to get fired. Go to work, take the abuse, come home, and you will be able to continue collecting your meager paycheck.
Cons
This is a RETAIL job. It has all the normal downsides of retail, with working for Wal-Mart added on top. Bad hours, numerous rude and ignorant customers, inept management, and VERY BAD pay for the amount of work many associates do. I understand it may be consistent with the industry standard, but that's indicative of an industry-wide problem with no easy solution. Extreme playing of favorites by management, with an impact on your ability to move up. Also, to move up, you must be willing to give yourself over body and soul to the company, having "open availability" which, at Wal-Mart of course, means 24 hours a day, 364 days a year (and soon Christmas too I bet). Policies will change on a daily basis, and you WILL work WHEREVER and do WHATEVER management asks you to in your given store. The Bottom Line: Wal-Mart is a good workplace for retirees trying to stay busy, students working through school (you'll get a good dose of humility), those with no ambition or desire to be treated humanely, and, tragically, all those single mothers and others trapped in poverty who do their past mistakes, choices, birth, etc., now have no better alternative.