Pros
The atmosphere is very relaxed and you can dress however you want - which is great to foster individuality and boost morale. The work day usually starts around 10:00am - compared to the rest of the world that starts at 9:00am. As awful as the subject matter is these days, talking about MTV shows is still more fun than talking about stock losses, pharmaceuticals or paper.
Kontras
The pay at MTV isn't even close to competitive. There is a sense of arrogance from senior management that assumes that people will work there for less money because "it's MTV". Unfortunately, they are right. MTV is also very unreliable. You can hear one thing on Monday and it won't be true by Wednesday. Also, the incidence of mediocre employees "failing upward" is staggering. The company is over-dependent on Perma-Lancers (long term freelance employees) but still treats them like crap by scaling back benefits and requiring them to leave after 9 months even when their services are still requried.