Pros
Most employees are smart, dedicated, and fun. Most of the engineering projects are very interesting. Since it's a smallish company, it's a great place to get experience and responsibilities. The workplace is generally very flexible, nobody cares if you need to take an appointment in the middle of the day. Most managers don't require you to get approval to work from home every now and then if you want to. PTO requests are almost always approved. Occasional opportunities to travel and attend conferences. Up to $100/month reimbursement for personal phone and internet plans. Free coffee and snacks or small meals in the office. The health care plan is ok. The company seems to win business often so is probably doing well.
Cons
Pay lags very far behind similar companies when comparing experience, education and responsibilities, and they are unwilling to negotiate. Bonuses are given quarterly, but they total up to 10% of salary and do not make up for the low base pay. The bonus amounts each quarter are completely random. Benefits and 401k also do not make up for the low base salary. There is a 3% safe harbor contribution, but it's on a 5 year vesting schedule (+20% per year). Above that the company matches up to 3%. Depending on company profitability, there is an additional yearly discretionary match, but it is small and this is the only form of profit sharing within the company. Everyone is expected to go above and beyond and take on extra responsibilities, and frequent overtime is required to stay on schedule, but there is no monetary benefit or reward for doing so. Leadership loves to go on about the company's "core values" and how great the company is, but none of the core values say anything about valuing the staff, which is easily felt. The company does nothing to incentivize you to stay long term and gives the vibe that you should be grateful to even have the chance to work here.