Pros
The company has a good vision and very dynamic. The teams are really focussed and there is ample visibility of your work.
SAP is a place where employees help decide policies that directly impact them. Obviously there is a limit to what you can do, but having a sounding board itself is a great thing in such a big company.
As an egineer, you would want :
1. good work - working on the SAP database product is challenging and it really gives enough opprtunities for you to use your creativity and technical intellect.
2. good pay - SAP rewards its employees with various stock related benefits, along with bonusses and a reasonably competitive pay.
3. Culture and value system - From time to time there aretranings, programs, extra curicular activities planned, which gives you opportunites to explore yourself beyond work.
I find SAP a great work place.
Cons
I do not see any real cons.