Pros
Large company with many lucrative defense contracts and high tech products. Future looks good with many countries purchasing Patriot missile. Many opportunities for people with technical degrees and retired military. High pay if you're posted overseas. How pleasant your work environment is, is highly dependent on the competence of your management.
Cons
Many managers in senior positions that are not fit to be managers and lack human relations skills. Excessive cronyism favoring the hiring and promotion of former military many of whom are incompetent at their jobs. Weak ethics department that does not act on serious workplace violations. Discrimination against the hiring of women in certain overseas posts. Stingy vacation policy in hardship locations. Company willing to endanger personnel for the sake of profit. Recently Raytheon along with other corporations have found a way to shift their tax burden onto some of their employees. They company has been imposing a controversial payroll deduction that is innocuously called "tax equalization" . This is imposed on those working in tax free countries such as Saudi Arabia. The net effect is that it is less attractive now to work in such countries. Unfortunately as a new employee you won't know this until after you've signed on with the company. Company is severely bloated with various processes and bureaucracy in some areas that nothing gets done. For such a multibillion dollar company sometimes it feels like it is being run like a mom and pop operation.