IBM

The majority of engineers are great to work with.

Management changes frequently. You have to prove yourself to a new hierarchy every year. If you don't already have clout, don't count on your voice being heard.

Managers move up. Engineers are underpaid and undervalued. If you don't work as much as the "workaholics," you will get a poor performance rating because of your "competition."

Anyone in my business unit who had a flat-screen monitor had to buy it themselves, because IBM senior management does not understand the productivity value per square inch of monitor screen. Engineering is understaffed and overworked, even when the business unit is making double-digit profit for the company. Senior management only cares about the percent productivity rather than the bottom profit line.

Managers need to listen to the pain points of their employees. Management needs to retain knowledge in large-scale applications. It takes years to learn the tools AND have a good overview of the code. Managers need to actually stick around to help implement change.