Pros: good benefits, (generally) professional co-workers
Cons: extremely limited wage and professional growth opportunities
It's true that Princeton has good benefits with often friendly, cooperative co-workers and a beautiful campus. And if you work here as an academic (i.e. faculty), they will fall all over themselves for you. Its a different story if you are considered "staff", however...
If you're looking for growth and opportunities, this is not the place to be. Annual – more... raises are in the 2.5-3% range (in a good year), promotions are almost unheard of, and although there is much made about how much staff is valued, there is little evidence to support it.
Your best bet is to make a good buck somewhere else, then use it to secure a cushy spot (and a fatter paycheck) from the moment you walk in. They're often willing to pay a fortune for you when you walk in the door, but don't kid yourself into thinking that you'll work your way up - no matter how successful you were elsewhere, and no matter what you accomplish while you're here.
Are there worse places? Absolutely. But don't drink the Kool-Aid they try to give you here. – less