Pros
The variety of teams and the flexibility of internal transfers makes this a great place to work for. I have had the good luck of working in a team which values employees and fosters a culture of transparency but I see that this is not always the case. The benefits package is definitely top notch - I have not had to pay any money for my dental, vision and heath care needs. All employees in Redmond get access to a really well equipped ( but very crowded) gym. Also, the location is excecllent - Pacific Northwest IMHO is a far prettier place than say CA.
Cons
1. Far too big and getting simple decision approved takes far too much time 2. Great emphasis on political correctness can take the fun out 3. Stock awards are not attractive anymore 4. Pay increases for annual reviews are pretty minimal - sometimes do not even match the rate of inflation. 5. Got to deal with politics. If you are the kind that just wants to get things done - you are going to have to have to deal with negotiations, persuasions, dotting your is and crossing your ts. 6. Work life balance is a problem on many teams. Especially around releases.