Pros
Paid for grad school. Non-stressful work environment / most employees go home at 40 hours. Slackers can blend in and get by if that's your thing. 401K match is on par.
Cons
Active management/mentorship of employees is non-existant. If you're looking for opportunities to improve your skills and learn as a professional you should look elsewhere. Employees are content to work their 40 hours and go home without any change to their daily workload. Lots of employees are ex-military with little tech skills or managers who are so far away from writing code they're out of touch. The gov't contract cycle leads to here today/done tomorrow workloads and a culture of employees who joke about working on code that gets thrown away and doing tasks because they're told to instead of questioning authority. The office environment is very sub-par - don't dream of asking for a comfortable chair or modern computer to code on. Also don't ask for extra screens or any other office comfort. And if you work in a classified environment you get no windows, no access to the outside internet, and no cell phone. This gets incredibly old after about 3 hours. Most employees sit on the same programs forever and are less than receptive to new members of the team. Saying hi is usually rewarded with staring at the floor from your cube mate. LM's benefits have gone down hill but HR is about 10 years behind the time. Pensions for new employees were stopped over 6 years ago. There's also no budget for training or conferences so don't even ask. LM is a great place to hang out for a few years while you get a free Master's degree and then move on. If you're looking to work hard and gain salary please look elsewhere. The difference in raises for average/exceptional employees is at most 3-4%. Is the extra 200 overtime hours worth that $$?