Pros
If you want a place to play it safe with your career, then you've found your match. It's not necessarily an exciting industry but at least you know the company is stable, the pay is decent (not to be confused with fair), you'll get a full range of benefits (not the best, but not the worst either), tuition reimbursement, processes are centralized and automated, and career, learning, leadership training, and travel opportunities exist. If you work at corporate, there are even greater perks such as drawings for attending arena events like NBA games and major concerts or getting classroom projects sent to your child's school like watching butterflies grow or magazine subscriptions.
Cons
I felt like the company bullied Memphis when it threatened to leave the city unless it extended a tax benefit it had been receiving for 20 years. As someone who remembers attending school without air conditioning, that tax revenue from this multi-billion dollar company was greatly missed by the city's school system, yet the company will like to tout its $1-2M charitable donations per year to local organizations. After getting it's way and expanding it's HQ, you would think maybe an onsite daycare or pumping rooms would have been included as part of the plan with what more modern-engaged companies are doing, but maybe that's a symptom of the leadership being mainly baby-boomers. Also, a lot of the field locations are in the boondocks. So for younger employees, the prospect of spending three or more years of your best years in a place that lacks basic recreation or the potential for finding a partner becomes bleak no matter how much they pay you. If you aren't careful, you will notice that IP will slowly, but surely become your life. Meanwhile, piece by piece you will have given up the parts of your life that made you who you are. It's a lot of people there that have spent their entire careers at the company so it's all they know. As a result, if you have an existing, continual commitment in your life that conflicts with work arrangements, these types of employee feel like you just need to give up what it is you've always done before you got there because IP is all that matters and there should be not flexibility on its part. At IP, you get sold the mantra of infinite possibilities regarding career opportunities. However, what they don't tell you is that at the end of the day, they will place you where they want you to go when they want you to go there. So that means even if there's an opportunity available for which you qualify, you may not get it because your manager considers you to be non-releasable. There also isn't a whole lot of credence given to your experience gained outside of the company. It's almost as if what you had done before doesn't matter because they didn't see you do it there.