Two cons. First, pay is probably closer to mid-tier than high tier. This isn't because the compensation is low on its face, but because people can easily become over-qualified. I think the reason for this is because so many people want to work here that Qualtrics tends to have most of the leverage when hiring. Aka, Qualtrics gets the pick of the litter—they can easily hire higher talent for less pay. I've seen plenty of people who are probably a tad bit overqualified for their role but because the lifestyle and office perks are so good, they don't leave. Qualtrics definitely uses this fact to their advantage. For prospective employees, it's not a deal breaker, but it's good to be aware of.
Second, for promotions and up-leveling, it can be very political. This is unfortunate, but it's not atypical. With that said, promos can take a LONG time. Sure, there are some that up-level fast, and sometimes doors open up. But as a rule of thumb, promos are slow, political, and stuck behind procedure.