Pros
Compared to other Defense Contractors, they are pretty efficient. Private contractors appreciate the "time is money" adage and strive to resolve things quickly. I spent 20+ years there and retired with a very modest pension and a good work record. I moved on to a prime (Boeing) and thought they would be better, because they are a prime and I felt I had hit a glass ceiling. Actually, Raytheon was much better as a subcontractor that focuses on defense (not diluted with commercial, defense, and services efforts). They strive to tie out their finance well (tracing risks at the individual program level up to corporate/enterprise level). It took a while, but they strive to integrate their enterprise tools (risk management, earned value, integrated master schedule/project). They do this much better than Boeing even though Boeing is 2-3 times the size. I was usually able to get the tech and IT support I needed to do my job. If I needed a software application, I just requested it and sometimes it would be pushed to my computer within the hour.
Cons
Unfortunately, Raytheon now is not the Raytheon I knew when I joined in 2004 (or the Hughes folks knew prior). The mergers in the early 2020s with United Technologies and Whitney Collins did not improve the lot of the Raytheon employees. Management direction was confusing and uninformed (e.g., senior executives in space who did not know what TVAC was). There have been more layoffs. I managed to duck them, but some very good folks got caught which surprised me. However, if the offer were right, I'd definitely consider going back. I grew up there, developed a good reputation, and you can have in impact.