Pros
Normal times: I am an engineer, so that is workplace life I will describe. Individual contributors design and/or validate designs. The work is interesting, and the company has/had the money to get or develop good tools. The time you spend engineering versus the time you spent in non-productive activities was a function of who was managing the project and the organization. I have seen it both ways. Even when times were hard, company policies seemed pro-employee. The layoffs and early retirements had generous pay packages.
Cons
I am describing the worst project I was on, not the average: Depending on management, there were too many meetings, too many requirements for activities not directly related to getting the product built. Reports, new "classes" in tools you may never use, and multitasking. Too much multi-tasking interferes with your ability to get any one of your tasks done. Same with non-productive meetings. If you want to get your work done without the interruption of "another meeting" you have to get it done at night. Management should fix that and the work/life balance will be better.