Pros
Not many at this point. Salaries are stagnant, corporate "leadership" has eliminated bonuses for everyone except for senior executives (salary grade E07+), and there aren't many opportunities for training or career advancement anymore. I suppose you get ample paid time off, but good luck using your allocation if you're in a critical role on a failing program -- and chances are that you will be.
Cons
If there were such a thing as a software development "sweat shop", this is totally it. I agree wholeheartedly with the reviewer that posted regarding the Aurora campus on 5/23/2015. All three of the major programs here are failing miserably (GPS-OCX, M2C2, and JPSS), which is negatively affecting the lives of around 1,500 employees here. This is a recent problem, and it's all due to Raytheon's pattern of responding to decreasing defense budgets by underbidding and over-promising on pretty much all contracts we engage on. As a result, it's become a tremendously stressful place to work over the past three years. That said, "hooray" for you if you're in the Top 1% of the executive employees here that get compensated with stock. Over the same last three years, the share prices have shot up to all-time highs on the backs of salaried employees that are being worked into the ground. The senior executives (VPs) and program managers in Aurora haven't written software in 20 years -- and none of them have any clue how to effectively run a lean software job in the modern world to save their lives. The only thing they *do* know how to do is to brute-force bully their salaried employees into working longer and harder with tired, inefficient software development tools that are total garbage in order to try to hold the line on cost. It's a losing strategy, and many talented people are walking out on it. Should you have the misfortune to be hired here as a manager or a technical lead, you will struggle terribly without the modern tools and management top cover you need to run your job effectively. And then you'll be blamed in front of groups of your peers for "failing". It's a total joke. Very talented people in Aurora are leaving in droves at all levels below senior management, and they're right. I'm personally to the point where I'd rather shelf my engineering degree and become a bar keep than continue to work here under these conditions. There's no winning, and there's no measurable change anywhere in sight.