As soon as you reach a certain level, they'll drop you like a bad habit.
Pros: Corporate events are usually pretty fun.
Cons: The good people leave or are let go, Some middle managers are great and some not so great, When they have to bring in somebody specifically to improve morale you know you're a crummy manager.
Things were going well and then all of a sudden, I couldn't find a role. So they let me go. The EXACT same thing happened to a friend of mine. He reached a certain level and suddenly couldn't find a role. I suppose when you reach a certain level, they let you go and hire new grads to keep salaries down.