Pros: Great opportunities, great people, good culture, and lots of internal resources for growing professionally. The company also has great citizenship values.

Cons: Slow to change and somewhat unnecessary processes/overhead. You could get stuck gaining experience in just the Microsoft stack (technically).

Pros: Benefits, benefits, benefits... Enough said. Also, if you are smart, you can stretch what you work on for weeks and nobody will notice (that's also a con, as you will eventually become lazy).

Cons: The process is at times unbearable. Advancement in a career is largely dependent on the 'who-you-know' game. If you came in at a lower level, it is very hard to advance. Changing jobs inside the company is very hard. You have to go through an interview loop like any other external candidate, but you also have to tell your current manager about it before your interview is even scheduled. Technically, a manager cannot prevent you from interviewing after 18 months in a position, but it really puts you in an uncomfortable position. With the scarcity of internal positions nowadays, there will be tens of people interviewing for one position, so there is a good chance that you are not going to get it. While managers pay lip service to the idea that they are there to support your career, you frequently become a pariah in your group after you have tried once to leave.

Pros: Good opportunities for career growth, good rewards, and praise for excellent work done, and good benefits.

Cons: Very Redmond-centric. I had to move to CA for personal reasons, and since there aren't that many good opportunities at Microsoft's Silicon Valley campus, I had to leave the company.