Pros
Because it used to be government run there are still some vestigial public sector perks that provide employees with the best salaries and benefits in the province (world?). If you can hunker down there like a bot-fly larvae and take advantage of them, while ignoring the chaos and ineptitude swirling around you, it may just be reason enough to stay. I can't guarantee your sanity will remain intact. If you are a business admin. or MBA student, you can't beat this place for practical hands-on experience on what NOT to do in today's business world. OMERS is, by far, much better than any university or college course in providing employees with such in-depth, critical knowledge of how top heavy, indecisive, bloated, backward-thinking and siloed business structures are detrimental to pension members and general all-around business progress. A couple of years here and you can walk away with a full understanding of what to avoid doing in your next career. Think of it as 'tough love' for your career.
Cons
Another poster mentioned the sheer number of senior management at OMERS. I would have to agree. It seems as though someone came to the conclusion that there is a direct correlation between the number of VP's at OMERS and high member satisfaction. The more VPs they hire the more happy the members are. Errr, not so much. Might want to rethink that one. Not only do the VPs seem to breed like gnats on a warm summers evening, but they stick around like an anti-biotic resistant rash. As already mentioned, typically this is achieved by taking the work/ideas/creativity of junior employees and claiming it as their own. When re-org time comes (typically every 2 or 3 years) the VPs hang around while the creative and hard-working juniors are shown the door ("thanks for all the ideas sucker, don't let the door hit your behind on the way out"). Either the CEO is unaware of this, or simply doesn't care. It's likely a good thing they keep the Directors and VP's after all, since the majority of them would find it hard to settle into another career that didn't include a job saying "would you like fries with that order" or involving hand puppets or a pack or Crayola's. No sense ruining two businesses eh? Let's keep that stuff corralled shall we? While we are on the topic of proliferation, let's discuss the HR team. If you choose to accept a job here please understand TWO things: ONE, you will never have a problem finding someone from HR. I think OMERS has successfully spliced human and rabbit genes when it comes to their HR team. You can't swing a stick without hitting at least 4 or 5. TWO, almost certainly the LAST thing they have on their mind is the moral and ethical treatment of you as an employee. If you cause a stir, make a wave, or air a legitimate grievance, it's bye bye employee. HR is like those nice hand-towels your parents put in the guest bathroom...they look great and seem as though they serve a purpose, but are never ever really meant to be used for anything. If you are seriously thinking about working here, then I can only recommend it if you are A) up to your eyeballs in gambling debts that need to be paid off (i.e., pay is good), or you are B) an entrepreneur who wants to learn all the "do not's" before you start your own company (because you get all that and more).