Pros
Interesting products and challenging work. Depending on the Division, my work was very enjoyable, and I actually used my engineering knowledge. If you find the right place for you, it can be a great career. Free clearance included. Fantastic work-life balance because you can't take anything home. Hourly pay and overtime for every position, if available.
Cons
That being said, there are so many employees in most Divisions that are coasting to a cushy retirement. The pension and benefits attract people who work for 3 years to become permanent, and then look at the ocean after that until age 62. Pay is not very competitive, around 20% below average, and that increases as engineers gain experience. Hiring process makes promises that they can't keep. No benefit for work above and beyond, or recognition/reward for exemplary employees, other than advancement opportunities down the road. The rules and regulations, red tape can bog down pay, leave, work process, delivery, safety etc. Veteran preference can push aside qualified candidates for positions. Long onboarding process, 6+ months.