Pros: A free working environment. Good business value. Flexible working hours. Nice colleagues.

Cons: The QA job is routine, especially with globalization. It is not at the core of the development process.

Pros: Great atmosphere, great network, and great people.

Cons: complex bureaucracy, some bad managers.

Pros: Stability - IBM is more than 100 years on the market and knows how to survive difficult times. Once you're there, your job is secure. Flexibility and Working from Home - You can work remotely, which gives great flexibility (although this is becoming more and more common for IT companies).

Cons: No Growth. I'd rate it 2 out of 10 in terms of career opportunities. Once you're there, it is very likely that you'll find yourself at exactly the same level in terms of position and salary in 5-6 years (well, salary may increase a bit, but less than inflation). Salary is not competitive (not my single opinion, but I've heard it from most of my colleagues). High staff turnover. No additional trainings are offered or advertised "in-house". Product documentation is a disaster. It's like a puzzle, but different pieces of it are located in different locations, and more often than not, people wouldn't be able to tell you the whole picture.