Pros
The best reasons to work for Boeing involve the nuumber of programs available to the engineering staff. Boeing is so large that an engineer can move to multiple programs at a site, can move to different sites locally, or move across the country and never leave the company. This is good for professional growth and experience. Because Boeing does so many different things (aircraft production, advanced avionics, large scale system integration, advanced weapon systems, satellites, UAVs, etc.) it's easy to get a broad range of experience just by moving around the company. Boeing is also very good about work life balance. In most instances, the 40 hour week is the norm and OT is on a voluntary basis. Also, at Boeing, you get paid for every hour you work. Even though exempt employees are on salery, all overtime is paid at your normal rate +$6.50/hour. Not a great overtime premium to be sure, but there is no working 50 hours a week and only getting paid for 40.
Cons
Boeing is a VERY big company. As such, all the problems that come with a big company infect Boeing. Boeing is VERY bureaucratic. Everything is ruled by "processes" and there are legions of deadwood employees who do nothing but sit around making up new ones. Then the company runs "audits" to make sure everyone is following the "process". Obviously no one does, but everyone lies to the auditors so that the reports come out right. This is typical at big companies, but it is systemic at Boeing, infecting every level. There is little chance of Boeing ever changing as they have started "training" every manager at what they call "The Leadership Center" but the managers call it "The Plush Prison". It was described to me by a manager as a very slick version of a communist reeducation camp. From sunup to sundown for a week managers are subjected to intense "training". It is intended to make better "leaders" but the net effect is to ensure that every manager is a carbon copy. Individual thought and unique approaches are actively discouraged. Sometimes this can make it a very challenging place to work.