Pros: Depends on the groups you are working in. The environment could be very passionate and enthusiastic if you are working for some "core" products. Those DEV leads are very experienced and knowledgeable and keen to answer questions you have. The benefits here are great.

Cons: The salaries are low compared to other big IT companies. You probably need to wait a long time for a promotion.

Pros: Lots of cutting-edge projects going on. Get to work with smart people on tough technical problems. It pays well and the benefits are awesome!

Cons: Reorg. Some groups have lots of politics. It really depends on whether your team leadership can shield corporate BS away from the team. New employees get low-balled, not having open discussion about career development.

Pros: The personal offices, free insurance, nice morale events – all used to be...

Cons: No interesting relevant products to work on. Very political – all technical decisions are made on the basis of how to please the upper ups, who are usually, to put it mildly, less technically savvy. What is valued is so-called "visibility" rather than true quality of work. And the most ironic of all: while Microsoft is giving the customer one of the best development technologies and environments in the world, it is greatly lagging behind in using it for its own products. Management is dominated by the "old school" people who worked in the company in the 90s and sometimes in the 80s. They invested tremendous amounts of time in old-time coding skills and greatly resent, if not always openly resent, the move forward with technology and skills, coming up with ridiculous excuses to justify it.