Microsoft

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).

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.

Allow easy internal transfer, without notifications to current management. That will help break fiefdoms throughout the company.

Get rid of the stupid 10% review category. Either fire me or do not brand me as a failure.