Vantaggi
Stability of work environment, stability of the industry. A good company if you want to stay until retirement. Good benefits. Satisfaction (or at least, lack of guilt) that comes from producing products that improve, or save, people's lives.
Svantaggi
A stifling regulatory environment that hugely increases administrative overhead. Doing engineering work here is like wading through waist high mud. Not a place for technical superstars; predictability and conformance are rewarded while outstanding technical efforts are too often left unrecognized. This is not a place where an engineer is going to make a splash right out of college; many years of experience are needed to sufficiently understand the products, usage, and regulatory environment.