Pros
Sybase is a slow moving company with few ideas but skilled people. This means that the products and offerings that we do work on, are well thought out and usually beat the competition in terms of performance and robustness. There is pride at working at such a level. Sybase also seems to offer better than average salary. It was reported last month (September 2008) that the average tenure at Sybase is 7 years. This seems extraordinary for a technology company in California. I think the balance of work and life that Sybase strives for, along with the good salary and low stress, allows for many people to enjoy working and building their "Work Family". There is another positive to working at a slow-moving conservative company. You have the opportunity to try new ideas and tactics at a slower pace. It may seem like a contradiction, but if you are a go-getter with some new ideas, they are still well-received, and sometimes they get funding. This allows for some big fish to try things out in small ponds. And your job isn't dependent on the outcome.
Kontras
There is very little aggression in terms of growth. If you are looking for cutting edge, research-driven, design-driven, competitive environment, you should go to Google. Also, there is a theory that Sybase is suffering from averaging-down. The best employees go elsewhere looking for higher risk-reward, leaving the unexceptional to create a new average. I personally work with some of the best people in the business, so although I can philosophically understand the idea, I don't see it happening around me. Bonuses and other non-salary compensation are pretty sparse. Sybase also tends to buy companies that then either have to be integrated (AvantGo, Extended Systems) or act independently (Mobile 365, XcelleNet). This can create some problems in both directions. With integration, you are sometimes looking at a dwindling team that is being managed remotely and is unhappy. With the independent company, you may be asked to work on a cross team project without sufficient training or resources.