Avantages
Lot of travel opportunities, and they treat you very well when travelling. Most senior people are very good at what they do and helpful too. If you are good you will get recognized quickly - very little office politics here.
Inconvénients
Spend a few years here and you can bid good-bye to any technical skills you had. You will end up with good knowledge about Amdocs products but little else. This is fine if you want to stay in the Telecom software field, not so much if you want to become an expert in Java/J2EE etc. The other good things about Amdocs seem to be coming to an end with most work being sent to their India center which I have heard works pretty much like any other Indian company - most new hires are fresh out of college with no technical skills. Even the ones who are hired with 4-5 years experience can barely write 10 lines of code without consulting the internet.