Pros
They company is definitely not afraid to spend money on employees for company events, catered lunch, beer/wine, and office amenities. They probably have some of the best parties and the office really attracts potential employees and clients.
Kontras
You still have to work and get your job done - that's where there's quite a few cons. The company has developed very inefficient processes and that are becoming more complex in lieu of simplified like the rest of the industry. It's not uncommon to spend a full day on filling out forms before being able to do anything on a project. All of these forms are imposed by upper management for CYA purposes. The company also has an antiquated and buggy project management system that again makes typical tasks inefficient and cumbersome. If you ask to change something or fix a bug in the system, it will take a long time to get any feedback and will likely fall through the cracks. Once you get used to all of this, you must then deal with the bureaucracy and politics that has developed and overtaken the original culture of the company. It's all about who you know and less about results - once you are there a while, you figure the system out and it's quite obvious what makes their gears turn.