Vantaggi
Nokia isn't what you could call a high-pressure environment, not least because many first-line functions are outsourced (you could also call this a con). There is some up-to-the-minute technology to work with, and really experienced and intelligent employees. It's a world-wide company with scale of technology to match. Pay and benefits (at least in my team) are above average, and work-life balance is truly taken seriously here.
Svantaggi
Senior (perhaps even middle) management keep making "announcements" which really have little relevance for the average employee, and it goes to show how little they understand about what many people in Nokia actually do. Beyond that there seems to be very little contact between management and staff. Almost all of Nokia's products (with a couple of exceptions) are also seriously behind the market now, and no employee could be proud of what they sell. Much of this stagnation seems to be the result of how difficult it is to actually get a feel for the impact on products of what you do every day. The whole tech thing in Nokia (at least in my team) is "virtual," meaning you never get your hands on anything, instead doing it all at your desk through your laptop. Also it can be incredibly difficult to get two of the multitude of different parts of the company to work together, or even just share a bit of information. This can be incredibly frustrating, and clearly leads to slow implementation of ideas and is probably one reason Nokia is so far behind the game in smartphones.