Pros
Work Life balance, track A/B schedule. Very Flexible. Good working attitude among peers. Promote ethic and fairness. Pay is above average among industry. very good brand name to put on your resume. Lockheed is about 70% Engineering, they tend to focus more on Engineering. Aerospace is a very small industry, with all the baby boomers set to retire within the next 3 years, they will be alot of position to filled. The working structure is a little different than other company, which mean you have to find a program to work on, if there's no program to work on you will be laid off.
Kontras
Security drawbacks and government is very strict on clearance. They don't necessarily pay well. You had better get it on the front end in most cases. They have to pay on SOME contracts in Cal. There are plenty of people there who will work for nothing and screw the rest of us. I lived in Cal for 10 years. They promise promotions and large increases t get you in the door, but they rarely happen. Hiring managers have goals to make so some will say anything to get you to join. Many of us jump for other companies and then come back at higher pay levels. It's the only way to really make this happen. The salary bands overlap between levels and Lockheed likes to keep people at or near the medium for the salary band where they reside. That being said, if you get a fantastic review and are at the medium for your salary band, your raise will be next to nothing. If you get an average review and your salary is below the medium, odds are your raise will bring you up to the medium. Pay for performance is a literal joke