Pros: global company, decent benefits
Cons: glass ceiling, management can be difficult at times.
Siemens is highly localized, even though the company is global, each company is very independent. The salary & benefits are competitive, while work life balance depends upon your individual manager and project.
Career advancement in Siemens is difficult beyond a certain point, since most of the management comes directly from Germany. The culture is very conservative and formal. There are a lot of very talented technical people who work in Siemens. Overall, it is a good company to work for, but is definitely not a top tier one.