Pros
Microsoft is a good place to learn. It is big enough of a company where you can move around for a position you truely enjoy and have passion in. In general, people change role in 18 months. You can move up, across, etc. I have changed job three times in the last five years. Alhtough I am not getting promoted everyt time. I do feel that I am changing for the better. The review system is fair and "make sense". Some people complain that it is too competitive but I think it is a good way to weed out people you don't want to work with anyway.
Cons
Microsoft is too big and not nimble enough. It missed tons of opportunities when they could have been catpured with the right vision and priority. It seems like we are always following and not leading.