Pros
Management seems to respect work/life balance, and recognize the aging of their workforce. They're currently one of the most financially stable employers (given the current economic climate), but are known for mass layoffs on occasion. If you're a lazy person, the corporation seems to tolerate your doing the bare minimum, find a place for you, and allow you to remain as long as you don't bother anyone else. The benefits package seems pretty good.
Cons
Don't do it! If you're young, bright, energetic, want to take risks and do really cool work without being bogged down with horribly burdensome amounts of process and paperwork, go somewhere else if you can help it. The organization moves slowly in terms of technology and its people - it's top heavy, and loathe to get rid of dead wood within the company. You WILL wade through several layers of documentation and authority to complete any task, and you WILL encounter resistance when trying to streamline operations. Don't expect to be creative in your job, either - as a result of the fore-mentioned paperwork, this company runs on legacy systems and knowledge and hardly tolerates change. Expect a lot of classically apathetic employees who are 50+ years old going through the motions of their work, and a smaller number of people who are < 30 doing the same thing (they tend to go elsewhere after a couple of years, and with good reason). The exceptions to these demographics are a rapidly ascending small group of middle managers to fill the gap, and possibly the most unnerving group of young corporate climbers in the technical leadership programs. (Anecdotally, most participants are from lower tier schools - but to be fair, they're simply indicative of the value placed on interpersonal skills that fit the company culture over raw technical ability. That's well within the corporation's prerogative, and it's obviously a mutually beneficial relationship.) The young corporate climbers might not be unique to the company; but be sure you can buy into its culture before joining LM. I'm modifying my original statement. If you're young and energetic, LM might be the place for you, because with those qualities it should be easy to stand out. This is doubly true if you're a minority - you will see no one will looks like you in executive leadership (even more on the downside, you might get a lot of the old guard commenting on your "diversity" status; this has actually happened to me on several occasions). If your priorities lie more in line with doing actual engineering work, being able to concentrate on doing it well with other talented folks and being surrounded by people who feel the same way, go someplace else. Essentially, this company relies on stale processes and systems rather than on true innovation and efficiency.
