Pros
Good place for entry level engineers. A lot of basic hands on design work and analysis. Good place to work on complex mechanical systems. The benefits are good, typical for this size company. The work atmosphere is fairly laid back, most engineers are in the building 50 hours a week which includes a 1hr lunch. The building is very nice and maintenance is good. Company matching 401k up to 3% then an additional 4% company savings. Typical company holidays, 2 weeks vacation first 5 years. Personal days are at the managers discretion. You generally won't need to take a vacation day for emergency or illness.
Cons
Very limited career growth opportunities. Expect no acknowledgement for completing advanced degrees. Some of the management promotions are obvious (great performance) while others leave people dropping their jaw. Very inconsistent in this area. As of late, expect most engineering time to be spent on resourcing parts out of the country. This is extremely mundane work and there is a lot of it. At most times of the year, expect 3-6 meetings per day. There are frequently more hours logged in meetings on a program than work hours done on a program. The processes for change management and seemingly simple tasks such as having a test run become incredibly time consuming due to the cumbersome process and incooperative personel.