Pros
Preface: I worked for Jacobs as a contractor on-site at NASA Johnson Space Center, so I can only comment on that particular division (ESCG). The ONLY PRO is that the work was interesting--I mean, c'mon, it was NASA! The rank-and-file guys "in the trenches" are awesome to work with.
Cons
Disclaimer: I worked for Jacobs as a contractor on-site at NASA Johnson Space Center, so I can only comment on that particular division (ESCG). The management out there had their heads permanently up their behinds--yes, more so than usual. They would always over-extend/allocate the employees, and then throw them under the bus at the end of the project. Us workers used to joke that management had skins of Teflon because nothing ever seemed to "stick" on them when stuff went awry. I worked there for over 5 years, and it was like this the whole time. Without any risk of exaggeration, I would say that a majority of my time was spent trying to work around them. It was exhausting...