Pros
You are able to keep your job relatively easily. It is hard to lose a job here, and it almost has to be intentional. If you find the right project to work on, you can learn a lot and get recognized by your teammates. Great life balance, your management will generally let you take your PTO whenever and the work schedules are flexible (9/80 or 10/4). If you have a good management (rare) they will recognize you and go to bat for you when it comes to raises and advancements.
Cons
Finding the right management or leads to acknowledge you is rare. More often you will work with other managers that are great to work with but your own manager will either be remote or not know what you're doing, making it harder for you to climb the ranks since they can only base their knowledge on your peers. Pay is based only on experience not your own skill and major accomplishments from yourself working or learning more outside of work. Needs to be stepped up with their competitors who offer more than 20% more. Engineers have been dropping like flies because Management doesn't even try to keep engineers, and probably talk about you behind your back when you try to make any sort of "demand"... aka asking for a little more because you outperform your peers and work extra - and the fact that programs are 100% on-site. Raytheon's top-heavy management is out-of-date and needs to be cleaned out.