Pros
This was a wonderful first job straight out of a PhD program. You can work on multiple projects (varying in interesting-ness), tons of research needed for projects & proposals & the IRAD programs. Great exposure to new tech. Some wonderful and brilliant colleagues. Attempts to modernize office space & procedures. Attempts to gather information on employee needs. Upper management is relatively accessible. Work-life balance & 403b is great. I learned a lot.
Cons
Depending on your area of expertise, you may end up in a department that is new or lacking in a lot of steady work coming in, leading to a lot of "dry spells" where competition for good work gets a little heated and political. It doesn't feel good. I am ambitious and hard working, and I often felt very replaceable, under valued, and discouraged to seek leadership positions because of my place in "line" waiting for them. Or I was so overwhelmed with too many projects that my days were literally wall-to-wall meetings. Work is very network-based which actually wasn't much of a problem to find work...until it was. People (including me) hoard good projects because it always feels like the rug may be pulled out on funding or staffing levels. People keep secrets on available work or who they'd like to do what. Staffing procedures were still a bit in flux when I left. Lots of reorgs, desk changes due to construction, lots of old guard vs. new stuff that I was very glad to leave behind. People that excel here seem to either be VERY complacent or very "in" with management. Also diversity and inclusion efforts to change culture were lacking (although hopefully have grown by now).