The main negative about working for IBM is tied to one of the positives. Formal process means that you have much better visibility into where you are in the overall delivery situation. Not only that, but since you continuously have to contribute information about your progress, you also get information on the overall progress, so you get a very good view into where you are in the big, and IBM is BIG, machinery. The downside of this is that process, particularly formal process, takes time. Pair this with the fact that IBM is geographically very dispersed, and you will find that you spend a lot more time on conference calls in IBM than in most organizations. This can be an impediment to progress in you "real" work. Once you get used to it you get used to it though.