Pros
Flexible timing and open work culture can make you happy for one or two years. You will be happiest person till the time your salary starts haunting your because of almost no hikes for years and years.
Cons
No salary hike. No promotions. Every steps towards your growth in ibm is a big joke in terms of salary. To say the least, theoretically a person can become manager by the time his salary reaches 4.5 - 5 lacs (in case you are a campus hire or your have been hired at a low salary due to some reason). Every HR mail related to salary is a big Mathematical game to fool you. IBM gives no hike to average raters and they give 3-6% hike to top raters (only 10% of IBMer, that means on an everage IBM gives a hike of 6/10=0.6%. You can easily understand how pathetic it is...