Company: IBM
Date: 2010-08-22
Overall rating: 2/5
Employment status: former

Not what it used to be.
Pros: Looks good on a resume.  Often get to work on new technologies.  There are still many, many great folks there.
Cons: Full disclosure:  I was laid off.  However, I am not a bitter and angry ex-IBMer - I was elated to get my layoff package (very reasonable) and  found a new, much better paying job before my severance ran out.  IBM was very good to me for many, many years (and my tenure started long after the golden years before the early 1990's) and I'm too young to have been personally affected by the pension shenanigans. My review comes from working in the Server group.

It is no secret that IBM's "strategy" has been to reduce it's US workforce.  They're achieving this by two methods:  small but continuous layoffs spread throughout the company and by making it more unpleasant to work there to encourage attrition. The unpleasantness ranges from big things (most people haven't had a raise in years) to the petty (no coffee, no soap in the kitchens, etc.).  Meanwhile, the senior executives are making millions upon millions  Consequently morale throughout the entire company is extremely poor.

Training?  Only if it's free and local (no travel expenses).
Raises?  Small and non-existent.  IBM redefined their salary ranges a few years ago.  We used to 
   hear you've got lots of growth left in your salary range.  Now you hear, "well, you're near the 
    mid-point of your range, so you're paid what you should be paid.  It's like jumping halfway to a 
    wall - you'll never reach it.
Salaries?  When I worked there, I thought it wasn't bad, but three of us have left my team in the 
   past two years and we've each received pay increases at our new companies in excess of 30% 
   and that's been in this terrible economy.
Working Conditions?  Varies widely throughout the company depending on your local mgmt and 
    location.  It was generally pretty good where I was in the Pacific NW.
Career?  At the big sites, there's plenty of places to transfer or try new jobs.  Smaller remote 
   sites are more limited.  And there's no way IBM's paying for anybody's relocation.  
Promotions?  Still possible if you're on the right projects or working with the right customers.  Pay 
   raises are minimal with a promotion, but at least the halfway point in your salary range is a little 
   further away after a promotion.

IBM's always been beauracratic, but local management always had flexibility to take care of their people.  That's gone now, First and Second line managers are now probably the worst jobs in IBM.  They're reduced to just implementing the new and often petty people policies dreamed up by the execs.