SAP

Good work-life balance, and the benefits are good.

Way too much politics.

Knowledge and expertise alone do not matter if you don't have good connections. Often, low-quality software is produced at cheap locations, and this is sold to higher management as "efficiency". Skilled people leave the company once they realize there is no way to add anything of value. Everybody else seems to stay here forever.

Replace all "politicians" with real (technical) leaders, who know what they were talking about. Break the old, rusty friend networks – mostly in the middle and higher management, but it seems to be everywhere now. Replace them with passionate people who only care about quality, innovation, and efficiency.

Do not believe that quality can be cheap. Good professionals are expensive, and that's for a reason.

Also, keep an eye on successful companies like, e.g., Apple. They do not sacrifice quality for profit, because in the long run this approach does not work.