Pros
Good work life balance (I am on a 4x10 flex schedule with every friday treated as "flex time" if I need it to reach 40hr/wk. I also enjoy being paid weekly. Good job security & stability from working in a large corporate workforce (we can absorb more business losses without needing layoffs). Fair salary and generous 401k match and employee stock options (which earn dividends). Holiday hours, sick pay, and PTO are competitive, with significant advantages in these areas for employees who stay at the company for many years. The compensation scheme for annual raises and bonuses seems fair and transparent. Top performers can usually expect +5% raises and higher bonuses at the end of the year. There are also opportunities to win out-of-cycle bonuses for excellent performance or technical breakthroughs such as patents or trade secrets. Technical training and engineering resources are plentiful, and the strong team attitude makes LMC feel like a great place to work. Work is generally exciting and fulfilling (your experience may vary), and the engineering staff are generally proud of what they do and strive to have a positive relationship with vendors and customers. I feel good about working here and am proud to tell people about my career at LMC.
Cons
Lots of travel, corporate red tape, and management can lose touch just by virtue of how large the company is. Promotion can be slow, and it is frustrating that excelling at your job doesn't necessarily mean promoting faster. Senior leaders tell us we need to move quickly and innovate, take risks, and win business, and yet it feels like middle management is constantly risk averse and fails to take action, move quickly, and make key decisions in a timely manner. This sometimes leaves the technical staff feeling powerless to influence outcomes, despite the vast resources and expertise available to us, leading to a feeling of wasted effort at times. Various divisions, or "business areas" (i.e. Aero, MFC, RMS, Space) within the corporation tend to "backstab" eachother instead of pursuing a unified corporate strategy (but that seems to have improved a lot in the last year or so) and sometimes it feels like we are our own worst enemy.