Pros
Large base of legacy and new programs to work on, lots of ability to move between functions, programs and develop your talent. Best in class healthcare benefits ($800 contribution towards deductible just for wearing a fitbit!) and retirement. After phasing out pension for legacy employees Lockheed implemented a host of improvements that yield what amounts to a 10% match 2 different plans. Company has started investing in technology and slowly upgrading facilities for employees. Industry leader in almost every category they play in and branching into new markets like energy and rotary wing segments. Strong ethics, good work/life balance depending on your role, work that makes a difference.
Cons
Variable compensation is slow to be implemented for first line leaders and individual contributors but the company is taking steps to resolve that. Culture can feel antiquated but quite honestly we have a lot of the same generation working here that kept us safe in the cold war. This generation is getting ready to retire making way for new leaders. Slower than peers to adopt to flexible work locations depending on the business you support. Huge company so lots of red tape but no more than expected for a $42B organization.