Pros
Competitive compensation and good work/life balance. Lots of cool company events and programs. It is a pretty easy place to work if you aren't really looking to move up the corporate ladder and you just want to duck your head, do your job, and collect a paycheck. If you are the ambitious type, then expect to play lots of political games.
Cons
Highly competitive work environment...sometimes toxic. Lots of politics and backstabbing. It is a "blame" culture. People are afraid to take responsibility for projects or decisions for fear of making a mistake, getting blamed, and having their reputation at TI be destroyed. TI's business fluctuates a lot, so layoffs are fairly common and everyone is always playing a game of musical chairs to avoid them.