Pros
IBm offers a pretty good work life balance although that is starting to disappear. The benefits are pretty good too, and the 401K plan is possibly one of the best. You do have a certain amount of flexibility and the potential to move around the company, alhough this will likely depend on which group you are in and how well the business is doing. It is not a given by any means which is what IBM advertised to potential employees. There is a great wealth of information and education avaialble to anyone who wants to stay educated and informed. The IBM name on your resume doesnt hurt either.
Kontras
There is way too much bureaucracy and redundancy especially at the management level. There are sometimes literally 3 people to do the sae thing and to attend the same meeting. Each will have his or her own agenda too. The quality of the management is very ordinary overall though there are some really sharp people. All in all, the reason IBM is surviving is because of it's technical talent of which there is a substantial amount. This does not mean there is no deadwood as there as meany people who are there just to colect a salary. The promotion process is not always fair and career growth seems to depend too much on which group you are in. Life in IBM is much better as a manager or above a certain band level(* 9 and above)