Pros
-Cradle-to-grave lifecycle of space hardware measured in months, not years or decades. I saw my designs fly to the ISS 8 months after I started.
-A culture that prioritizes functionality and capability over flight legacy/risk aversion. This in turn drives innovation, elegant design, clever solutions, and utilization of emerging technologies. Completely avoids the "Well, we know this decade-old technology worked before, so we'll just use it in perpetuity," mentality that makes all good engineers sad pandas.
-Highly meritocratic structure. Promotions, bonuses, and raises are based entirely on performance. (The only thing seniority gets you is nicer parking.)
-Free frozen yogurt and coffee. Frequent free gourmet food.
-Stock options.
-Flexible (albeit lengthy) hours. Work-from-home options.
-Working with the most intelligent, dedicated and (increasingly) accomplished engineers and technicians in the field. It is an honor and a pleasure to work with and learn from my team. Good sense of humor all around, too.
Cons
-Persistently lengthy work hours, occasionally brutal. (Orbital mechanics wait for no one.)
-Some groups can develop a toxic interpersonal work environment when mismanaged for a long period of time.
Not for people who:
-Want to work a 9-5.
-Can't work weekends at least some of the time.
-Can't/won't innovate.
-Need handholding.