Pros
The culture at Microsoft is very accepting and diverse. Microsoft also seems to be genuinely interested in the welfare of their employees. The medical plan is great and there are SO many communities in Microsoft you can belong to. They have pool tables, ping pong, volleyball courts, foosball and they give you free membership to one of the best sports clubs. There is also free soda and starbucks machines in every building in the campus. Microsoft always encourages the use of cutting edge technology and is constantly pushing every department to upgrade to the latest and greatest tools of the trade.
Cons
If you are a vendor or a contingent staff, you're not treated very well. I also don't particularly like the cafeteria program. I feel they are too expensive and sub-standard quality food.