Pros
If you can get into the right group (in my experience, Lowes.com), the culture is extremely laid back and the work life balance is great. There is a lot of opportunity for upward and lateral mobility, allowing for some great experiences. Compensation is decent, especially considering the work life balance and the overall atmosphere. After working at a small company, the corporate office itself has some great perks: onsite pharmacy, coffee shop, cafeterias (including some external food vendors). Bonuses on .com are also traditionally solid.
Cons
Vacation/holiday time is very limited (expect 2-3 weeks vacation) with only 2 set company wide holidays. In my experience, this has been made up for with the work life balance... but something to consider in a less flexible setting for sure. Parts of the company can be very old school, stuck in a very traditional mindset that can be annoying for some. Related to the traditional mindset, I've worked in one group that was very religious (prayed at lunch if we went out as a team)... which I think could be a little uncomfortable.