Pros
I'm a recruiter, and I know other top companies target GE employees because of the development training of the Company. Having at least 3 years successful work experience at GE makes employees very marketable. GE spends a lot of time and money developing the "top talent" (top 20%) and even "highly valued" (middle 70%) and a "least effective performer rating" isn't a death sentence. GE has great benefits and lots of opportunities to advance--especially if you are the person who takes on the hard jobs and are willing to move around. GE's culture is a meritocracy, but social skills are important. There will always be politics in large organizations. There is still a pension plan--it's overfunded, but it's not so generous that you don't need to contribute to your 401(k). 99% of the people you work with at GE are genuinely good people and most people have pretty good work life balance.
Cons
GE tends to run "lean" which means that during peak periods or when your team is temporarily short-staffed, you sometimes do have to work long hours. Also, GE tries to be competive on salary, but not the highest payer out there. You don't get to be the last surviving member of the original Dow by paying in the 100th %ile on salary. Many of the best jobs are in unattractive locations.
