Pros
This is a great place to work as a young engineer who has no idea about how soft other companies can be. The work is hard, but come on, it IS rocket science. I love my job because of the wide variety of projects I get to work on, the sheer amount I have learned after working here only about a year, the really smart people who surround me that I can learn from, and the fact I get to walk about 100 ft from my desk and be on the floor of a rocket factory. This place will push you to be the best that you can be. It's definitely not for the weak minded or those who need a lot of sleep, but if you put your mind to it this job can be very rewarding. You can learn everything there is to know about making a rocket from the top down, and be involved in almost any aspect from the analysis and development, to the testing and installation. And watching launches knowing that you had your part in making that vehicle is nothing short of exhilarating. The cafeteria pumps out some pretty good food, there is an unlimited supply of coffee, they will pay for gym memberships and the annual holiday party is absolutely incredible. Also there is free froyo. Need I say more? But I will say it's pretty awesome seeing the look on people's faces when they ask what I do. I make rockets. BOOM.
Cons
I don't see myself working here once I have a family and kids, but it's great for when you're young. There isn't any 401k matching or overtime time pay because stock options apparently overrule them all, but if you stick around long enough to cash in on those stock options you can certainly make the big bucks (or so they tell me). The hours can be long depending on what phase of a project you're in, but it's not consistently exhausting. Work life balance can also be difficult, but I know a good handful of people who have managed to make it work. Part of the problem there is that most of the people who work here were already workaholics, and this environment just fuels that. So if you aren't a workaholic, you might feel consistently guilty at not being here super late or on the weekends. But that's your choice (except in certain circumstances). The coffee stand's espresso and espresso making skills could also use some improvement. And I would really like to see them help out those who wish to pursue a graduate degree.