Pros
Oracle offers a nice work-life balance, many employees are doing 9-5 schedule. The job security is very strong, i haven't heard of software developers layoffs in our building over last few years. However job security does not apply to consultants - they are in a vulnerable area. Depends on your manager you can telecommute part-time which is a nice perk. Overall a good company for people who want to keep a secure job and trade off professional challenge and compensation for that, somewhat socialist model. Many folks staying here for 10+ years - somewhat unheard of in a tech company. A lot of 50+ folks, means it is a good quiet firm to get to retirement age.
Kontras
The work itself is not so challenging, you development skill can easily degrade over time. A lot of politics, i guess it is not exception of other large companies. No salary increases over multiple years, make sure you negotiate your initial compensation over an industry average. Bonuses are given once a few years and top 3-4 %.