Pros
1) There are some very smart people working at Oracle.They have been there for a very ling time. During a project, you can learn a lot just by talking to the senior people who help you with your project. 2) Oracled database is a challenging product to work on. Kernel code has been there since 80s and one of Oracle's best success has been to keep this code pretty stable. Just browsing thorugh the code helps one build on his intellectual capital. Getting involved in some projects for Oracle's database related products is a great plus. 3) Oracle management is pretty OK with working from home. You can have a flexible schedule as long as you get the work done. 4) benefits at Oracle are OK.
Cons
1)In some groups, work is not allocated fairly. I know some people who have been at Oracle for a while but who have not done any major work. 2) Some people at management can be rude at times. 3) If you recently entered Oracle, then there is not much chance of a career growth simply because there are too many people ahead of you.