Pros
Wal-Mart is the largest retailer in the world at the present time so there's a great chance that Wal-Mart will be around for as long as you would like to work for them. They pay above the market average for most positions including their management positions. The benefits have improved in the past few years as they have upgraded the health insurance options they offer. There are many opportunities to move up in the company if you are willing to relocate.
Cons
With many changes in upper management over the past few years we've seen major changes in the way things are done at Wal-Mart. Some of these changes have been good but others, such as the new store layouts have made merchandising a store more difficult. Also, in the current state of the economy it seems Wal-Mart has went ultra conservative in spending money on wages. This makes it very difficult to take care of the Customer and to keep standards high.