Fairly flexible management and work schedule. Good benefits, but not extravagant. Interesting and diverse work. Comfortably paced with tangible progress and accomplishment on most projects. Some capability to direct dollars and research towards your interests. Growing company gives the opportunity for some vertical movement. Occasional business travel.
Cons
Some risk to job security, company is funded based on won contracts. Govt. contract availability is subject to many factors which can lead to unexpected dead ends. Contract bidding is highly competitive, most proposals will not be selected.