Pros
Normal industry benefits, 401k matching to 4.5%, medical, dental, education.
Cons
I've been with Raytheon in the IIS division for over 18 years and it has changed quite a bit over the years; getting worse! I have been able to stay employed even when contracts end, but it was mostly by doing it on my own. Benefits have gone down over the years and medical has gotten more expensive. Even with long term employees, pensions were capped, severance pay was discontinued, and profit sharing went away and are no longer given to new employees. I thought this was crap and long time employees should have been grandfathered. Management is usually not very good and pretty much tells you what they need to at the time they are talking to you. Training is normally not given because the Government won't pay it so it means Raytheon won't pay. My opinion may be for just the division I have always been in and other divisions or contracts may be better within Raytheon, but from the ones I've been on, this is my experience. In the end, it is a huge company where you are just a number. Raises are 1-3% which is crazy knowing what the CEO makes ($14M +). This is not a disgruntled employee talking as Raytheon has provided a living for me (which I'm thankful) over the last 18 years and just my opinion on what I've seen.