Pros
They do produce quality work that does the job and exceeds customer expectations. You will not feel like you are producing a low quality product. Their customers and stake holder(s) are really the only winners. Employees are just an obstacle in the path to profit.
Cons
There will be no opportunities for advancement, regardless of what you are told in your interview.
Management is definitely a good-ol-boys club. Long hours are frequently expected - especially of engineers. Your overtime hours will not be reflected in your compensation. Instead of being treated as a team member, you will be treated as an obstacle.