Pros
There are a number of highly motivated, smart, ethical peers employed by IBM Global Services. The outsourcing business, in particular, is a hotbed of creativity. IBM Global Services has, in many cases, done an excellent job in de-centralizing decision making to allow the creative juices to flow in developing client-facing solutions. IBM's propensity to allow people to work from just about anywhere is a highly satisfying policy. In most cases, they truly do not care where or when you do the work, just as long as you get it done. They expect each employee to get it done well and on time.
Cons
Management can be less than completely forthcoming at times. The executive review of work completed under very stressful circumstances can be frustrated. Occasionally, executives do not reveal all of their motivations such that the end product can be architected to meet all expectations during the first run through. The compensation for high performing non-management sales types has room for improvement. A downside of the current environment is no clear sight in to career advancement opportunities. Highly qualified people can be stuck in the wrong position for too long. The annual "chipping away" of the non-salary benefits programs, which may be true of many companies, is a source of irritation.