Pros
The work life balanace is good. There is very little pressure to perform but that also means there isn't much reward when you do perform. The benefits are good and pretty much all encompassing. There are a few interesting projects to work on, but not as many as you would like to see. There aren't a lot of people who have to travel on a regular basis, so if you are looking to stay in the area where you live this is a good place. As long as you perform well enough you are pretty much left alone to do your job.
Cons
Limited advancement beyond a certain level. Work is commotitized. Acquired companies are fairly siloed and are not valued as much as they could be. It is hard to break into upper management even if you are talented. Pay scale is good for junior and some mid-level positions but it tops out once you are a Principal or higher unless you are one of the top 10 or so employees. There isn't a great pay for performance model. They say this is something they are working on, but we haven't seen any changes. It takes a long time to change anything at SRA.