Pros
Raytheon offers new employees stable employment with good benefits. It is an excellent place to learn and develop skills and provides flexibility for employees to specialize in areas of interest. I've worked with many talented people within the company and there are opportunities to leverage relationships (mentoring).
Cons
As a large company, there is a good deal of bureaucracy and required, annual 'training' for items such as ethics and information system security. This training is often mandated by government customers, but becomes a nuisance over the years. Regarding career growth, you must be your own champion from day one which is expected to some degree regardless of the company you work for. However, this can and does lead to a 'me vs. them' environment. For example, helping others get their job done is not valued nearly as much as claiming your own accomplishments for personal advancement. In my experience, a team player is not rewarded as much as a lone ranger.