Prós
There are always opportunities to drive your career at NI, especially when you come straight out of college. I worked in the Applications Engineering department for about a year and the atmosphere is great. You meet a lot of really great and driven engineers and management is always making sure that you have what you need to succeed there. If you want to be uber-techical, there are roles for you to develop that. If you want to try your hand at marketing, there are opportunities for that, and everything in between. If you are driven, you will succeed there, since there are always opportunities to move around and do what you love.
Contras
The pay is fair, but not great. Many of the people I knew starting out would work long hours, and some still do, but the pay doesn't really reflect this. Of course, they were working on things that they would probably be doing in their free time anyway, like building a car that can be controlled by an iPhone, or a Rubik's cube playing robot. However, if you want a 9-5 job that you can leave as soon as the clock hits 5, it might not be for you.