Pros
Some of the best reasons to work for Raytheon: The pay is above average for engineering and the defense industry. Large company with varying career paths and opportunities to work on-location at project sites if willing. 9 / 80 work schedule is great. Every other Friday is a day off which can be great in combination with holidays. Job security is pretty solid if you are on a well funded project. Benefits (health/dental) about average as far as any other type of job goes. If you keep your head down and not screw up, potential for a cruise control career.
Cons
The downsides of working at Raytheon: Large company can lead one to get lost. To make the most out of the job you need to drive yourself and, sometimes, know the higher ups. Upper management is not well connected to employees. There should be more transparency to lower level employees to help everyone. Government contractor job is typical, slow moving industry. Potential for layoffs with new government spending in charge. You can get bored there easily if you're looking for a challenge. New and innovative ideas are somewhat frowned upon and not taken seriously, "go with what you know" mentality.