Microsoft

Schedules are very flexible, with freedom to do what you want. You'll be working with lots of other very smart engineers, and good low-to-middle level management. It's a fun place to work, where the rules are lax, and you have the opportunity to mostly work on what excites you.

Incompetent senior management means many products end up being mediocre due to a lack of vision and execution from the top. At the end of each day, I would say I had fun, but ultimately my work has little positive impact on the outside world. There is a lot of empire building and resistance to improvement or change.

Upper management should pay closer attention to the product groups they're incubating and be willing to take a bit more risks. If they stay their current course, MS is doomed to mediocrity. They have the talent in-house; they just don't know what to do with it.