Avantages
Good starting salary. Reimbursement for educational expenditures. Job stability - no layoffs. Interns get full benefits; this includes paid vacation, 401k matching, and insurance. Intern pay is based solely on academic level: incoming freshman - $15 / hour ; incoming sophomore - $17 / hour ; incoming junior - $22 / hour ; incoming senior $25 / hour. Starting salaries are based on a formula including what school your degree is from, what GPA you have, and what experience you have. Minority status also seems to be included. Former interns are given job offer preference, but they are not given higher starting salaries than other people.
Inconvénients
Low salary growth. Insignificant promotion raises. You get paid more if you start off with a masters degree than if you earn one while working at Raytheon.