Pros
Company has positive outlook for continued production, unless there are significant issues or changes in funding. This equals long term job security if you want it. Since it is a large company there are many opportunities to have different roles in your or an other discipline. There are technical, project, and construction engineering positions, so you can likely find something you like to do if you can network. Lots of young engineers. Benefits are reasonable for the local job market. Good tuition reimbursement program. Much of management is near retirement, there are opportunities to advance quickly if you can seize them. Product is interesting and awe inspiring. Close proximity to NYC, Boston, and the ocean. Good array of winter and summer outdoor activities associated with the company and outside the company.
Cons
Upper management wants to change based on employee feedback, implementation has been a mixed bag, but mostly a downgrade. Essentially got rid of overtime to "improve work life balance", but placed expectations that 5-10 hours of casual time depending on salary grade should be put in, and must work those hours for free if overtime is going to be paid. With no bonus tied to on the job performance if you were regularly working overtime you essentially got a pay cut, and you have to be in upper management to get a real bonus. Raises have been mediocre for the last few years. Upper managements message has been it costs a lot of money to hire and train people. Problem is many don't stay long enough to really get a good return. The company is revamping its performance review process, and the associated raise process to allow for managers to actually give poor raises to poor performers. We'll see how this one works out. You work for a customer who has no motivation to get things done quickly or make decisions in a timely manner. This makes getting things done exceptionally difficult. There is no true bonus for someone on a technical track, you might get an atta boy for something above and beyond, but those are few and far between. Everyone gets an incentive check if certain milestones are achieved.