Pros
I am proud to word for Oracle India Development Center. Unlike its parent company, Oracle Corporation, Oracle India is not huge. It is a bunch of smart people trying to create sensible and customer oriented products. Work is very demanding and challenging. Work culture is amazingly open and flexible. Management ladder is very much flat and not surprisingly, most of the managers rose to their position from being developers earlier in the same company. You are asked for deliverables and not for certain number of work hours. Innovation and communication with anybody in the organization is highly encouraged. If you enjoy writing quality software, this is the best place to be.
Cons
Being a huge organization (or at least a part of one), processes are slower than they can be. But this is unavoidable in any big organization and Oracle deals with it in the most organized way possible.