Vantaggi
Good work/life balance. Every other Friday off (9/80 schedule). Annual raises based on performance (better performers get higher % raise). When you are on a contract, work is steady and almost guaranteed throughout contract period of performance. If you are in the correct business unit, you get annual profit sharing, but certain business units are phasing this out. Not sure if that will go company-wide. Most positions require security clearance.
Svantaggi
Most of the programs you work on focus on creating things that kill people -- it is the defense industry after all. Benefit package keeps getting lowered (I was the last group to get 3 weeks starting vacation and a pension -- 2004). However, always satisfied with the health care options, Going through major cost-cutting right now. Not sure if this is because of sequestration, or just because they want to push up corporate profits. They are probably pushing up corporate profits by blaming sequestration. Suspect workload is going up a lot more than pay or perks -- fewer people, same amount of work. This is government contracting, so if your position is a line item on a contract, you are gone when the contract is gone unless you can land on another contract. Over the years this got less and less likely just amping up the stress at contract end. Tuition reimbursement only approved if it applies to your immediate position -- they won't pay for you to grow in other ways. Most positions require security clearance. They value telecommuters but you are out of sight, out of mind and the technology isn't there to make remote communication easy.