I have joined IBM 6 months back and this is what I feel about it:
IBM offers work-from-home, which is a very good thing. In case you need to provide night-support or weekend support, you dont need to physically come to office ( unlike other companies)
As per hr directive, no manager questions you like where you had been, why you were not on the seat, etc
I wont comment on chances of growth, cool or not, etc because all these depend on team.
The cons are
The salary is second lowest ( The first being Cognizant Technology Solutions)
In the pretext of process-oriented, every work takes a whole lot of time. Means a lot of red-tapism
At least in Kolkata, the night - transport for car-drop is in pathetic stage. They have a tie-up with Calcutta cabs travels, and provide car-drop to men after 9 pm and women after 8pm. But there is no central team to look after it. You have to run after a man for about 1/2 to 1 hour and keep requesting for a car. Mind it, its not his fault coz he is chased by literally 30-40 people at a time all asking for the vehicle.
There are virtually no training sessions ( technical, soft-skills or business-related). There are no mandatory classroom training. It means that although you gain brand-name while working here, but you dont gain any knowledge if you dont try too hard from your end.