Pros
The product is good, the salary and benefits are good. There is little stress most of the time in most areas. Huge amounts of training are available to permanent staff. Some departments and teams are full of bright people and do interesting and fulfilling work.
Cons
Basic business processes are broken and all decisions have to be taken by management with disagreements only resolved by endlessly escalating. Decisions take endless meetings to reach, and can suddenly be changed. There is no communication between departments and middle management like to invent new processes or "strategies" without considering the bigger picture. There are also the every day frustrations with terrible IT, endless approval processes, broken decision making, unclear responsibilities and lack of communication. However this does mean there are plenty of low stress jobs keeping lists in Excel and attending meetings. HR rules make applying for internal positions impossible.