Pros
You are going to be surrounded by some of the smartest engineers on the planet, tackling some of the most challenging problems. There are things I work with that I had entire lectures on in college that wrote them off as impossible. The 9/80 work schedule, which give you every-other Friday off, is pretty sweet too when it works out. Even the cheapest version of the dental insurance is fully-paid Delta Dental.
Kontras
Honestly, it is the management that is ethically bankrupt. They will push product at such a pace that they burn out entire departments of engineers and even begin to sacrifice its quality - just to get their bonuses. DCMA needs to take a much closer look at a lot of the programs, because there is a lot of questionable practices going on that is sacrificing product reliability and quality. Stuff getting swept under the rug, practices mostly that put the long-term viability of the product line at risk. At the same time, management has no interest in promoting within the company - but keeps complaining about retention and recruitment. I had an informal meeting with one of the directors who flat out told me - with two years already at the company, and four years of total experience - that I was still "two to four years" away from being promoted to engineer II, because "we don't promote for its own sake". This was not someone I reported to, just someone who I knew would give me a straight[er] answer. Raytheon just doesn't promote, full stop. In my two years there, I haven't seen a single internal promotion happen around me - including engineers who had been in their roles, excelling, for three to five years before I even got there. You have to at least leave your role, and usually leave the company, in order to get a promotion - and they don't give real raises without promotions. If your yearly raise matches inflation, you're doing extremely well compared to your peers. The raise never beats inflation. The work/life balance is also terrible. Some people are lucky, and their program will qualify for overtime - even as a salaried employee - but most are not, and everyone, except the managers, is working 60-80hr weeks. The 9/80 schedule is great, if your program actually lets you take advantage of it. The pay is also low for the titles as well to, just to add insult to injury, looking at the official pay ranges and curves for the various titles. Listening to the 'old-timers', people who have been in their same roles since the 80s, 70s, or even 60s, things used to be much better. The health insurance was fully-paid; promotions and raises were the norm, not the exception; the retirement plans were golden; the work/life balance was excellent most days. My advise, if you apply and get offered a job at Raytheon, take it, work for two to three years, then move on. Especially if you are still early in your career. There is no benefit to you staying longer than that, but it is enough time for you to really polish your skills and establish yourself as an engineer who knows which way is up.