Prós
We get every other Friday off, the pay is pretty good to begin with, there are many jobs where you don't have to work over the 40 hours on a regular basis, they pay for up to $7,500 per year in education expenses (they pay up to $10k per year if it is an engineering-related degree)
Contras
Depending on your manager, you may have a very strict working environment, there are some people who get selected as "favorites" and rise to the top quickly so if you don't have a high-level manager to champion you, your upwards career movement will go very slowly, people being hired in new can end up getting paid more than people who have been there with 5+ years experience and excellent performance raises (this means that they are not keeping up with the job market's salary increases for people who are still working there), they no longer offer a pension, BIG PROBLEM: Defense budget is being cut. We build missiles and other war-related hardware at this location, and we keep losing contracts. Rumor has it we are in for another big layoff. It's not a great time to try to get into the defense industry -- I personally will be getting out of it as soon as I finish my latest degree.