Pros
Commitment to basic research from the R&D leadership but not necessarily from the executive team. Truly international company, great opportunities to travel.
Cons
The more you work, the more they will make you work. Nobody cares about your problem, you get a paycheck so shut up. If you do not play golf forget about career progression. It is also advised to be a yesman. Hiring salaries are usually good but pay increases are crappy. One year when the results were great we were told that our bonuses would be limited because we should create a war chest in case of bad years. When the following year was below expectation because the operating return on sales was 18% instead of 20%, we got no bonus, no salary increase, the 401k match was canceled and 10% of the staff was fired.