Pros
Generally people have an open minded mentality at work and it is pleasant to work in. (Although I have heard mixed reviews depending on the department you work for) Very challenging environment. Employer seems to care about employee's motivation. Great experience for an engineer right out of college due to the vast amount of job requirements that could change daily. Senior engineers are always willing to help (great mentors). 401k Cheap insurance plan (but does not cover much when needed-about 70~80% of cost)
Cons
This could be bad or good depending on personal preference, but on general there is a lot of travel (This could change according to your job position) Company has conflicting cultures between departments leading to a big mess in coordinating projects (nothing gets done at the right time) When a problem is detected a lot of finger pointing goes around, which prevents employees from learning. Depending on the department you work for, the turnover rate is s very high. (Many people gets fired and hired) Low engineering salary. Depending on the project, long work hours can be expected. (Although this is not every day and every week, you can still have a satisfying personal life. At the same time this is not the place for the regular 8 hours working day)