Pros
Flexibility, compensation, benefits, & the team are best of breed. They get it here, it's all about the work. If you're responsive & competent you have all the flexibility a professional can ask for. I've been here several years now and we're a small company (50-100 employees) so I know everyone that's come and gone. From time-to-time contracts are lost and layoffs occur (as they do everywhere, there's no such thing as a "permanent" job) but from what I've seen the organization finds a way to keep the GOOD people around. If you spend most of your week surfing the web and shopping on amazon odds are they won't bend over backwards to keep you on-staff following a contract loss. If you're the proactive type and enjoy finding ways to add value to your team there's longevity here for you.
Cons
Government customer can make for challenging days/weeks. Current state of federal procurement process