Microsoft

Honestly, the main pros for working at Microsoft have to do with the work-life balance and the benefits. There's a good amount of drinking and joking on the job, which can actually be viewed as a good or a bad thing depending on who you ask (mostly good when done responsibly, in my opinion). The people are generally pretty smart and fun to be around, though there are way too many who have become or just are complacent and lack the motivation to be better at their jobs.

Management is atrocious. Like others have pointed out, there are way too many managers who don't actually even understand or possess the skills to do their jobs and effectively manage a team. The culture is egotistical in the sense that it promotes an "I" sort of mentality. There is very little in terms of collaboration and promoting team success. The infrastructure is archaic and all over the place. Also, there is very little emphasis placed on employee growth and development.

Bring in fresh minds with fresh ideas to manage, and then fire yourselves.