Microsoft

Good compensation if you are an exceptional performer. Opportunity to work on many different technologies once you are matriculated.

Poor mobility within the company. Management promotion opportunities are generally linked to how long you have been with the company.

There's an 18-month minimum that you must stay within a group before you can work on a new project. This can screw you over, as one can easily get lured into a failing group. Periodic hiring freezes exacerbate these problems.

There's not enough emphasis on placing people with strong technical backgrounds into management. Ideally, individuals should have both qualities. Recently, there have been more "foo-foo" managers and fewer technical managers.