Pros
It pays the bills if no other work is available. Decent for high school/college students looking for part time work, but not something I would make a career out of. Stock options that no part-time and few full-time employees can afford. Other employees excluding upper management in each store are often fun people to work with who try and make the best out of the situation. They are often somewhat experienced in the products their departments handle and often take a good deal of pride in their work. I learned some things I didn't know before and was able to use my employee discount top buy a few things for my college dorm.
Cons
Poor employee treatment. Employees often overworked, forced to complete an abundance of tasks as overtime is not allowed. Employees often not aware of corporate practices. Employees required to participate in the "Wal-Mart Cheer" at the beginning of each shift in a lackluster attempt to improve employee morale. Also, you must be a full-time employee for at least 4 or 5 years (unsure of the exact time but in that neighborhood) before being eligible to take part in a benefits package. Employee discount does not apply to all items in the store. Don't buy the big rubber bouncy/kickballs. They have the most markup of all items within a Wal Mart store at nearly 300%; that is why all stores sell them.