Pros
The relaxed enviroment and competitive salary make most of the time working actually nice. Specially because getting the job done right and on time is more important than strict adherence to working hours. The people here are friendly and hardworking, are willing to help and don't start pointing fingers when things go wrong. At least, within IT. Other departments can sometimes behave differently, but are usually of like mind.
Cons
There's a severe lack of communication between management and employees. There's little to no vision, and less real desire and effort for improvement. Most of the time is spent putting out fires. There are strong and clear cases of favoritism, specially evident when things go wrong in interdepartmental relationships. Not to mention that career and personal growth are almost non-existent.