Pros
When working on important programs, there is lots of money for tooling and prototypes.
Cons
No money for raises. Frequent years with no merit increases for the whole company. Limited advancement opportunities for non-software technical talent. Most future US hiring now targeting Atlanta. Most technical hiring is now in Mexico or China. Product management frequently makes major changes mid-program, but demands schedules not change resulting in long days and working weekends. Everyone expects new "unlimited" vacation policy will be used to severely limit vacation taken. Every year the benefits are significantly reduced. In 2017 we lost the company contribution to dental, earned vacation, and flexibility to work from home, even occasionally. In previous years we had already been limited to expensive high deductible health plans, lost our company contribution for vision, lost our company contribution to our HSA, and lost the ability to borrow from our 401(k). Morale is so low that employees openly discuss state of their job search.