Pros
Steady pay, decent benefits, good work/life balance, fascinating problem domains, many friendly sociable people, many smart and motivated co-workers. Basically everything except the work and company direction.
Cons
Too many chiefs constantly squabbling for power. Incompetent dinosaurs in charge of promising projects that die on the vine No real product vision or future product investment Piling features onto rapidly aging architectures that are becoming difficult to maintain Activities and decisions increasingly driven by angry customers Record quarters rewarded by more layoffs and cutbacks in the name if profitability Upward mobility highly gated by politics rather than merit "Product company" slogan very ironic Poster child for why enterprise software is so awful