Vantaggi
Many intelligent, committed colleagues who are willing to work hard and learn. Interesting, varied work. OK compensation and good benefits.
Svantaggi
Compensation structure is very limiting. As others have said, if you are hired at the low end of a salary band, you're confined to the compensation ghetto forever--you'll always be paid less than others with your job title. Lip service is paid to innovation, but people with the sort of personality that goes along with creative thinking are not valued or welcomed; rocking the boat is not looked upon kindly by management. Software and technology tools are archaic. There is a ton of nepotism and favoritism. People are punished or held back because of the perceptions of other people, even if the reality doesn't match the perceptions. There has been a lot of management by crisis, but this is getting better. In order to win contracts, bids are slashed to the bone to the point where it's impossible to get the work done and stay on budget.