Pros
The Woburn gym!! They provide(d?) trainers there! They pay pretty well. In 2007, an E04 Senior Software Engineer was making about 90K. An E05 could break 6 figures. (most people end in the 4-5 range) Given the level of ability at the plant, this pay was generous. I left to complete a degree. I am making much more (several offers) than I was there. Of course, I don't see most of the people there leaving, nor would I recommend many at my new employment.
Kontras
Work environment. As others have noticed,Raytheon gets paid "by the head". As a result, I have seen managers simply promote their friends. In several casess from 2002-2006, "screaming" incompetent managers existed in Woburn (as well as Bedford, Woburn's predecessor) This would seem bad for the really talented, except that the really talented leave. Several incendents of public bullying - 2006-2007 personally witnessed yikes!