Pros
Stimulating work, relaxed atmosphere (business casual), great co-workers. Getting time-off when needed for emergencies, or just last minute plans is pretty easy, because of the size of the company. Many opportunities for advancement. Yearly reviews and raises are pretty consistent. You definitely know what the career path is; the company goes to great lengths to make sure that all employees know what's expected of them. For the most part, Raytheon, as a company abides by it's core values and stated objectives. The work pace is reasonable for someone who loves what they do and is motivated. If you don't like what you do, I would imagine that it could be a pretty tough place to work.
Cons
Very large company, so sometimes you can feel like a very small and insignificant cog in a very large machine.