Vanishingly small chance for advancement. There were two promotions in my department during my time there, not counting assistants getting title changes, but no additional responsibilities. I had offers to leave, but I chose to stay because Wiley was safer in the long-term than the alternatives.
Equally small chance for a raise. There once was a very good chance to get a bonus that might make up for the former, but the bonus metrics were changed to minimize that chance. In addition, the metrics that will get you a bonus one year would then put you in a hole to make your basic metrics for the next year. Base pay is average for the industry.
Regarding the (mercifully) few incompetents, the ones who never bring a new idea to the table, who take credit for others' work, who encourage a project just shy of the point where they have to do anything for it, and who keep losing staff (even to other departments) because no one wants to work with them: they won't be fired anytime soon.
The open office plan is strangely isolating. There was, in my opinion, little opportunity and less encouragement to interact with other departments outside of meetings and formal company events. I could have tried harder, though.
A godawful amount of paperwork and layers of approval are necessary to do anything. On the one hand, it is helpful to get input from a lot of sources with different perspectives. On the other hand, the bureaucracy has a baked-in distrust of personal initiative and responsibility. Wiley is definitely one of those places where it's better to ask for forgiveness rather than for permission.