Pros
High degree of Job security due to unwritten rule not to report on colleague's or superior's misconduct. Low degree of turnover. Coworkers are friendly. If you're looking to just skate by using your connections, this place is for you becuase you don't actually have to deliver. Of course, this can also be a "con". There are some genuinely hard working people there even if they've fallen through the cracks on the road to official recognition.
Cons
Pay in NYC not commensurate with cost of living. Weak corporate culture that is resistant to evolution. Authoritation, fear based leadership. Frequent breakdowns in communication among leadership. Low morale. Inconsistant policies. Many mid-level narcissistic leaders. Inadequate training. HR has 0% interest in the welfare of its employees (even though the opposite is claimed) and often Performance driven by "Crisis Management". Short-sighted leaders in high levels.