Pros
Lockheed Martin promotes a very diverse and pleasant work environment and stresses inclusion of all peoples as a core aspect of what makes the company what it is. Lockheed Martin stresses honesty and accountability as well. Most divisions of Lockheed have benefits that exceed those of competitors.
Cons
The level of bureaucracy in working for a major Defense contractor is astounding. There are two sets of hoops to jump through to get anything accomplished, Corporate and then Government and the two policies generally don't overlap often causing tons of red tape to get the mission accomplished. In general I didn't feel that the best candidates were promoted to management. Senior managers seemed to pick and choose people to groom and everyone knew that those individuals were the ones that were going to be promoted to management down the line regardless of their level of leadership abilities or technical competence.