Pros
1.) 9/80 schedule allows for an every other Friday off. 2.) Lots of paid time off (4 weeks off to start, 40 hours PTO, 40 hours floating time off) 3.) Benefits are good. 401k contributions are excellent, Health insurance is a high deductible, but cheap if you don't use it (per period contribution is almost free). 4.) Consistent pay raises annually (1-4% based on performance) 5.) Good work/life balance 6.) Certain divisions are much more successful so seek employment with a line of business that has a long term contract 7.) Lockheed isn't going anywhere and the steady business the government provides will keep it around for a long time to come
Cons
1.) HR is pretty stingy and you really have to prove your worth in order to negotiate a higher salary when being promoted. 2.) Lots of internal hiring / lateral position moves 3.) Program management teams can make questionable commitments to the customer that don't support the schedules of other groups (Engineering, Operations, Supply Chain, etc) this can put you under pressure to put forth work that hasn't been properly vetted. 4.) If you're manager isn't a true leader you will stagnate, unless you take it upon yourself to develop and grow your career