Pros
This is hard to answer because my supervisor was top notch, however in my experience working with other departments he seemed to be the exception, not the rule. Working here is great for resume building, "I worked on nuclear submarines", carries some weight. You basically cant get fired for not doing work. Besides the obvious, mischarging is the only thing I ever saw anyone get fired for. You can basically cruise and do no work if you're okay sitting at market rate. You wont be getting paid much more for working harder either (see cons). Good 401k matching.
Cons
Archaic PTO policy and you're always an hourly worker, even if you're paid salary. If you don't hit exactly 40+ hours in a week they take it out of your PTO, but if you work over 40 hours the next week they don't give you OT pay or the time back! This place is literally robing its employees blind. Poor compensation. Health insurance and employee benefits such as overtime and anything else tied to compensation, (besides 401k) is progressively made worse every year. It always seems in bad faith too because these compensation "updates" are always accompanied by something like new vending machines or some other empty cooperate gesture. Unless you negotiate a large starting salary you will never make above market rate working here. There is no, "I did really good so ill get a big bonus and raise." The raises come from a pot that cooperate management designates to each department, so your supervisors hands are tied. The bonuses are tied to everyone else in the company, and are based on a goal system where everyone in the company receives $250, $500, $750 twice per year depending on meeting those goals. It really feels like a slap in the face when that year your engineering department went above and beyond to complete a major critical task and they still can only give you a 2% raise and 500$ bonus for the entire year because the construction yard didn't meet their goals. Oh, but they'll have an award ceremony give you a little piece of paper with your name on it saying good job. Even if you're the departments golden boy, you might get a 4% raise. Its rather insulting. Further, if you do negotiate an above market rate starting salary, management will make sure you don't get above a 1% raise until you're back at market rate again.