Microsoft

• Great benefits
• Good pay
• Looks great on resume
• The part of Microsoft that I work in (Business Application Groups) is growing very rapidly, so there are lots of opportunities for learning.
• It doesn't feel too much like I'm working at a massive company because of all the responsibility I got as an entry-level engineer and the opportunities to work closely with customers.
• Great culture, cool people.

Particularly where I work, we are rapidly developing. There's always some fire to put out.

Sometimes I feel overworked and end up working significantly more than 40 hours a week, closer to the 50-55 range.

There are other companies that will probably pay you better (not that Microsoft's compensation is bad by any means).

Depending on your team culture, you might be overwhelmed by meetings.