Pros
If you're lucky to get a developing/designing role, then its a fulfilling job. Also, if you're a US hire, you get sent to India for 6(8 months now?) for training. The training is unbelievably simple if your a cs or cpeg major, but the time in India was something you won't get anywhere else. If you're into traveling like I am, it was an amazing time. India is a phenomenal country and the campuses that Infosys has built there are unbelievable. You get to live in India without worrying about power or water outages and you get to see a place on the planet that's so different, but so amazing.
Cons
I've worked here for almost 3 years. I spent 6 months on bench after my return to the US. I was placed on a project where I got to do most of the design and implementation which I really enjoy. That's what I like doing. The problem is that the uniqueness wears off almost immediately. At any Infy function, I feel like an outsider. Even in my office, I have three other infosys co worker's and they always speak Kanada or whatever that language is. When we have events, its a 20 to 1 ratio of Indian to American, but at my client which is not an American company, you would never know. They participate in local events, and they they do local things. They make you feel like you're part of the community. If Infosys wants to be a global competitor, they need to make us feel like we belong. If I'm going to stay here, I want to feel like I'm valued and I don't have that now. It's obviously difficult with 100,00 people, but the company needs to focus on that, if they want to grow. Outsourcing cannot last forever. As the living standards improve and the competition opens offices in India, you need to separate yourselves somehow. You need to offer something that the competition does not, and low billing rates is a temporary answer.