Pros
The people are great to work with. There are many really smart people that worked for the former Hughes Aircraft Co. Many of the engineers have a diverse background of education. Hughes valued that. A few locations in sunny California. Health contracts in multiple business units. Flexible time off is really great. Raytheon can offer some very creative solutions to problems (when the engineers are allowed to develop ideas). Working together at a site is typically good. Labs are nice and computers are refreshed every 3-4 years. Engineers have lots of options of where they can work in the country. The company encourages moving periodically.
Cons
The mid level management is not very competent. They miss out on key opportunities to capitalize on events. No strategic vision for growth. The organization is not agile enough due to overburdening of processes. Lack of application of modern technology. Buy it attitude as opposed to invest in your people and develop it at the company attitude. High turn over rate. No vision for investment of IRAD funds. Very difficult for different organizations to collaborate together. Also, a high degree of rejection of modern technology beacuse of "not invented here" attitude. Many cliques and if you are not in one you are out. Raytheon does not value advanced education. Too many processes. Engineers get MS word before they can get mathcad, matlab, compiler etc..... Something is wrong with this model.