Pros
IDS is a stable organization with a lot of opportunity if you are willing to stick around. Overall the work is slow paced and it takes a lot of waiting for things to get accomplished. Time off is never an issue and between PTO and Mod-Time you should never have a problem getting a 3-day weekend to take a well deserved break from work. 401K matching is very good, and an additional 3% for retirement isn't to shabby either. Benefits are pretty standard. Overall satisfaction is a 4/5 but some of this has to do with career path satisfaction rather than Raytheon IDS.
Cons
VERY slow paced. Lots of waiting, lots of downtime. If you are a busy person that loves to stay engaged you'll find yourself waiting for long periods of time due to long drawn out cycle times. Often process cycles are confusing and the only person who has the concrete answer to your problem is the guy that's been there 15+ years doing the same job with little to no career progression. Most employee's recommend staying with the company for 1-2 years, leaving to get more money, and then coming back with more experience to double your salary. People love IDS but don't think the 3% annual raise increase is worth the cultural benefits.