Vantaggi
Subject matter can be interesting; easy hours; everyone gets a week off between Christmas and New Years; your relatives back home in Indiana will be impressed that you're working at Harvard.
Svantaggi
Uncompetitive salaries and benefits; no equity; no career opportunities for most fields; highly de-centralized structure: If your boss is crazy or abusive there is generally nothing you can do about it (Harvard rewards tenure with management positions, thus managers are often untrained, incompetent, and unfit to manage anyone.) Generally dysfunctional and infantile atmosphere (not uncommon at higher education institutions). During the recession Harvard chose to lay off long-term employees rather than dip into their $20B. At no time did President Faust ever officially address her employees. It was an unconscionable choice.