Pros: growth and advancement is only limited by what you are willing to do
Cons: very defined culture. if you don't fit the mold, it may be difficult to adapt.
Lutron is still owned and run by the founder of the company, the same man who invented the modern dimmer switch more than 50 years ago. It is a privately held company that reflects the value and hard work of the owner. It is cutting edge and leads the industry in innovation and design. However, it is an engineering company first and foremost. That is not good or bad, it is just important to understand that mindset. Many of the salespeople began their careers as engineers, and so they are very good at selling to other technically minded people, but communicating and establishing a base with the average consumer is still a work in progress.
The company has grown so fast, that it is still working though how to operate as a medium-large company. It is still run in many aspects as a small company, where most employees know each other, and there is a sense of family and community. If you are a hard worker you can advance as far as your hard work will take you. They are very demanding in their hiring process. They want the best of the best to work there, and will compensate accordingly. The culture of the organization is vintage old school east coast. Wear suit and tie to work, don't walk on the grass, etc.
Overall, the organization favors innovators, hard workers, and people with vision and accountability. It is a great company to work for in an industry that is still growing and dynamic.