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Salary
Market is super hot and most companies are paying atleast 50% above ibm pay for same yoe and similar col area
This question has been asked many times to Arvind and Jim but they always say that ibm compensation is fair. Which is a complete lie!
People even debunked the pmr study done by ibm and found that ibm was using random salaries from non-tech, non-consulting firms maybe to find low end of the pay range and then they set midway between low and high which is completely non-sensical.
There's no bonus or stocks either. I am sure that it's completely different for execs.
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Processes
Everything at ibm is slower than governments, need anything from management? It'll take so much time, you might lose a client or
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Grim Future
Looking further it seems to me that IBM can't actually afford to do any real research and build anything because they do not have $$ for it. They can and will buy small companies who have successful products generating revenues. So no one at ibm will ever be involved in next best thing.
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Top down culture
This is very self explanatory, have a disagreement with manager and see what happens. Managers who are completely non-technical and have no idea what their teams are doing but want to dictate them.