Pros
GE is a global diversified company with variety of career options and allows for lateral movement of people. The company does spend time and money on developing people and provides a platform for the strong and able people to realize their leadership potential. In principle, the core set of GE values is very good when followed in letter and spirit and for a company this large, it makes an excellent attempt to propagate the values downstream within the organization. The culture is fairly fast paced, ever changing and filled with a buzz that really makes you crave some downtime. Overall an excellent organization to work for if you join young, work hard and fair - makes an excellent breeding ground for leaders.
Cons
GE is a behemoth and as a result, decision making can lead to an awful lot of meetings, rehashing the same old story time and again and some days seems like reliving everyday the same way - kind of like Groundhog Day. Too many projects, too few people, constant battling for resources all compound some of the frustrations one faces working at a company like this. In many respects, this is not any different from any other company, but the performance measurements one is held against can be pretty tough compared to other industries - so sometimes one is working with a hand tied at the back. Unenlightened junior and middle management can add to frustration levels.