Pros
I've been with Raytheon for over 15 years. I have mostly wound up with decent management and on decent projects. I've definitely heard of people who have had worse experiences than me, but my employment with Raytheon has been satisfactory. 401k matching, pension, Christmas shutdown between Christmas and new year is nice. Several paid Holidays. Depending on project and management, work from home options might be available. System for annual and interim performance reviews and goals tries hard. Occasional employee events (summer BBQs, car shows) Free coffee, tea. Employee peer awards system in place, but seems like it is shrinking. Company tries hard to retain employees during "lean" times.
Cons
Benefits have been declining in recent years. Used to have annual bonus, but no longer. Used to have more choices in health insurance and at better rates to employees. Haven't had a "boss-buys-coffee and donuts" day in a long time. Company used to provide for employee training. Now, the company offers several online self-training modules, but they are almost always on your own time and on your own dime. Pay is average. Time off is so-so. (After 15 years, I have about 4.5 weeks of PTO.)