Pros
Since the company is well established, it has proper design control and development procedures in place. This is useful to learn, but requires seeking of guidance to understand its value, as little of its importance is explained to you on the job. Many of my colleagues here are incredibly intelligent and competent people, who provide me with insight and guidance. However, most people would admit that they are unhappy here, which make for a less than ideal environment to persist in. Learn what you can from this experience to place yourself in a better place. Benefits (health insurance, company perks, profit-sharing, 401K match) are generous.
Cons
Upper management has a tendency to micromanage and not trust its personnel, despite hiring top talent. Decisions are made and ordered down to scientists with little rationale or explanation. Leadership seems chaotic. Some managers are also promoted to levels beyond their capabilities, whereas competent personnel are mistreated and micromanaged, indicating a lack of meritocracy. There is very little room for career growth, as the higher management positions are saturated with some doing just enough to get by and waiting to collect their pensions. Scientists partake in technician-level tasks that require little-to-no intellectual effort. Very little innovation is integrated into the products developed here. Ideas and methodologies are stale. Roles here are very siloed, thus resulting in limited exposure to the development process as a whole. Job is not time-demanding, but due to sporadic decision-making from upper management, it may require last minute and weekend cramming to meet deadlines. While this may not be pervasive throughout, there is some culture here where people/groups function "just enough to get the job done," such that when issues arise, it gets dumped on other groups. Be prepared that R&D receives little acknowledgment and credit for their efforts in bringing products to fruition, as well as trouble-shooting on-market issues--customer-facing groups (sales & marketing) often jump to take and get credit, hence the lack of meritocracy.