Pros
Usually not stressful. Unlike other comercial companies (not in the defense sector) you won't find too many people working lots of overtime. Partly because nobody has the drive or the interesting projects that draw them in on the weekend. Mostly though, it is because Raytheon is like any other Government contractor (especially defense contractors) - there is little incentive because the more hours the project takes, the more we get to charge the government. The El Segundo location is a great location in the Southbay. Raytheon compensation seems pretty competitive.
Cons
Bureaucratic and slow about everything - means you learn and progress less. Secrecy is a part of almost every project and is a huge pain in the ass to deal with from an engineering perspective.