Pros
Benifits: excellent educational benefits and free health insurance. You want to get paid for not working. It's a union company, so as long as you show up during your scheduled work time and don't get caught watching porn on-line (and if you get caught spending too much time on-line by IT you find other ways to start spending your time) you pretty much won't get fired. Many employees constantly have low quality work so that when there is work to be done, it's not generally assigned to them.
Cons
Not able to do engineering. Bored to tears (after requesting more work for months, I was finally told by my boss (after pointing out that I literally have no work left to do for about 3 weeks) "What do you want me to do?!? Everyone else is in the same position!" -- also note that my group is still hiring more people). Pay is below average for the degrees required (not initially, but raises tend to run close to 3% and it's nearly impossible to get promotions other than by taking a new job). Ethical issues and sexual discrimination and harassment are not dealt with well (the company works hard to cover up their tracks and rarely punishes even very egregious offenses). If you ask many older employees, many of them have at least one story (especially females -- I think they've all "been there"). Having a hard time moving into other jobs after becoming a paperwork pusher at Boeing. There are few engineers that do engineering work at Boeing. It's hard to convince other companies that you are an engineer after years of experience with non or pseudo technical paperwork pushing. Things like virtual office and flexible hours are heavily promoted to new recruits, but are dependent on approval of your first line manager (most first line managers won't approve it, unless you're dying of cancer and will take a medical LOA otherwise).