Pros
If you are working in one of the premiere groups, the work is extremely interesting and there is plenty of opportunites to advance. Recognition is sometimes hard to come by through financial rewards, but usually the successful are rewarded with more interesting work and respect from their bosses and peers. Raytheon is very dedicated to making sure that their employees have a good work life balance in their lives.
Cons
If you do not work for an elite group, it's very easy to get stuck in the same job for years and not be given to the opportunity to prove yourself or to advance. The internal politics and "empire building" can sometimes be a bit overwhelming. Frequently the individuals that are hired into the company at a higher grade are not as qualified as the people of lower grades who have been working there for years.