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No 9/80s, no bonus
and no mass layoffs. XOM is one of the most even-keel companies you will ever come across. They don't throw money at people in a boom, but they also don't shaft their employees in a bust.
WRT pay, they pay their top performers very well (at least in the engineering side). Everyone else gets industry avg (at best).
WRT suits, you only wear them if you work downtown. All other locations (again, at least engineering) are business casual.
It's a very type-A personality company. Very competitive rating and ranking. I agree with a lot of other comments - if you work there and excel, you will do well for yourself; if you work there and don't excel, you will at least have a nice launching pad to another company.