Pros
Raytheon is a decent place to get started. They have enough projects going on that you will get put on something fairly quickly. You can use your time here to get acquainted with engineering practices and enterprise processes that will be useful later on. There are also some pretty interesting projects to work on.
Cons
As an electrical engineer looking to work on digital circuits, Raytheon IIS might not be the best place to work. While a few projects make use of digital design skills, the majority are systems integration, which, while the concepts are interesting, connecting up COTS equipment is not the most interesting work. I also find the bureaucracy makes altering course (even if the course is not ideal) to be difficult. Also, some of management's responses to feedback can be annoying and less than helpful (the employee opinion survey said employees don't feel like we get enough respect...so now we get weekly Respectograms. Thanks, that helps).