Pros
There are many innovative ideas in terms of projects to work on. Management attempts to allow you to work on the projects that you are most interested in. They will try to re-assign you if you ask them that you would like to try something new. I have never had a problem with speaking to my manager about these issues as well as any issues that I may have although response is slow. Management is usually flexible in terms of taking vacation, personal business or setting your own schedule. Several good benefits such as medical insurance, 401K matching, tuition reimbursement.
Cons
Compensation is much lower than other companies in Silicon Valley. They say it is because they do it in terms of cost of labor instead of cost of living which is stupid in my opinion. There is a lot of politics that go on in this company. It is really evident when getting raises or promotions. Because of the politics and system, raises or promotions come very slowly. They tend to keep you from getting to the next level quickly. There are also not many perks available but probably because it is a defense company.