Pros
Raytheon is a weird company. You'll meet some great people and, depending on what your job is, you'll gain a lot of experience fast because they dump the hard work on new employees. Interfacing with the big players across the defense industry is a great resume builder. They also have sites across the world so if you can get in you might be able to relocate (they will NOT pay to move you). 9/80 schedule is nice.
Cons
There are many. - Mind numbingly bureaucratic. Upper management told a room of people that Raytheon doesn't remove or alter bureaucratic policies, they just add new ones (in response to inefficiencies). - Outside of a cost of living raise, you will never see a raise of any significance. Managers are commended for keeping their employees' salaries down. - Every 3 to 5 months you will go through a "justify your job" exercise because they love lay-offs. You'll have to create lists and spreadsheets that describe, in detail, what you do and why they shouldn't fire you. Rather than raise revenue they cut costs. - Whatever they tell you about paying for education, know it's not true. Well, it depends on your job. Engineers will get a lot but anyone that is "indirect" won't even get $600 towards a community college accounting class. - "One Raytheon" is a myth and you'll actually negotiate terms and bad payment plans with other Raytheon sites you do business with. - Because they operate with a skeleton crew, if you take more than a few days off you'll be told to cut it short or work on your vaca. If it's a step in the right direction for your career, fine, take it but know they will try to get rid of you as soon as you become too expensive or an intern can do your job. Use the experience to move on after a few years, it's just a means to an end.