Pros
Can be a terrific place to work for technical people if you are hired in at the start-up phase of a program.
Cons
Let's be honest and call requirements work for what it truly is: secretarial work. Raytheon's SADID (Systems Architecture) directorate is drawing too heavily on requirements workers for promotion, and you end up with managers who don't have a good grasp of engineering fundamentals running various programs. There is still an alternate path to management available via software integration. However, software integrators are similar to requirements workers in that they also do not have to understand math or engineering principles to do their jobs. Since Raytheon's main "deliverable" for the various elements of the GBR/etc radars are new software builds, it makes sense to promote some software integrators into management, but they still need technical oversight via real engineers. Watch for cronyism: when layoffs are looming, preference will be given to those who started their careers at Raytheon.