Pros
I worked here for close to 2 years and it was amazing. If I hadn't wanted to switch careers and stop being an engineer, I never would have left. Innovative culture, open communication, cutting edge resources, stock options, expert mentors, welcoming environment, great balance between young engineers fresh out of college and aerospace industry veterans. If you're not already a top performer, you will be within a month of working here (or you won't make it).
Cons
Work-life balance. You aren't required to work long hours, but most people do because they are passionate, motivated and have a ton on their plates at all times. I usually came in at 10 am, but didn't leave until 10 pm, and frequently worked weekends. Launch schedules and design deadlines are tight and there is always pressure to perform - you will always have multiple fires under your butt. But it's all worth it when you launch something into space!