Pros
It's stable, you can be sure in tomorrow. It has good social benefits, like medical insurance, long vacation. There is almost no overtime working, because the users of software are from DB itself. DB don't try to save money, hiring less qualified employees, so the team is high qualified and smart. DB gives a lot of freedom to software engineers. In general it trusts employees. There are almost no restrictions in use of internet. All rules usually more declared, than are controlled technically. Also there is no control over the employees, like counting working time, or visited internet sites. The main thing is getting things done.
Cons
It's a very big company and therefore it is sometimes behind the life. For instance, wages are increased once in the year, after annual bonus. But here in Russia, average salary level (as well as inflation) may increase highly over the year, and after a year raise may be that to just cover the inflation. Also it touches all kinds of request of software or hardware upgrades. Other thing is that direct management doesn't control employees much and doesn't make guidelines as for tasks, and for whole career development. Also DB is not for people who loves dynamic style of working.