Pros
Good company -- innovative and been around for a long time. Gives employees input to do things the way you feel is best for your area of specialization. Management puts trust in employees. I was fortunate in that I wanted the opportunity to get my hands dirty in a lot of different areas, and hone a lot of different skills -- and TI was very accommodating to this mindset. The department I was in -- communications -- takes on a variety of roles for a variety of internal company clients, and I had the opportunity to work on many types of projects.
Cons
Can be difficult to advance -- there's a lot of competition for very few management spots, many of which have been occupied by the same person for literally decades. This reflects strongly on the company's ability to retain talent, but can make things difficult for a young "up and comer." Another downside is that, like many big companies, the experience at Texas Instruments varies greatly depending on the department you work in. I feel I had wonderful supervisors who gave me flexibility and trust -- but I've heard stories of the opposite coming from different departments. It all depends on the supervisor.