I've had several coworkers leave for several different reasons. Here are some cons I see and have heard from others:
1) Pay - Although the pay starts out competitive, it doesn't grow as fast as other companies. Many of my coworkers left for other companies in the area and got a 20-25% pay bump. Of course, they lose some perks, like every other Friday off, etc, but they get more dough.
2) Culture - Lockheed Martin is fairly old school. That appeals to some, but a lot of Millennials I see struggle with it. Millennials often feel leaders micro-manages too much, that advancements don't come quick enough, that they are not being recognized for all their contributions.
3) The Customer - Working for the war fighter feels awesome. Working for the war fighter through departments in the US Government is frustrating. The problem is, Lockheed Martin relies on one main customer - the USG. So what is to stop the gov from demanding what they want? Competition is tough, so LM has to give in a lot.
4) No Bonuses
5) Earned Value Management - Defense Contractors have to follow a system of measurement that is unique to defense contractors called Earned Value Management. EVM can be useful but it requires a lot of extra work on the part of the engineer and financial analyst. And it really doesn't translate to the world outside of government work.
6) Pigeon-hole - This is for financiers more so than other business areas or engineers; the type of financial work defense contractors do is pretty different than most commercial companies. If you want to move to another industry but you have been at LM a long time, you might find it hard to pitch what you have done in a way that is relatable to other companies.
7) High Level Management Doesn't Care - Honestly, this is probably true for most companies. The Missiles & Fire Control division just went through layoffs (for the first time in a long time) and honestly, it didn't seem like upper management cared too much. The packages given to those laid off were decent, but it didn't feel like management shared in our pain. The CEO also seems like she has no interest in the individual employee. When the government shut down and some contracts had to be put in stop-work, she didn't really offer a lot of support to those who had nothing to work on. They just had to wait it out.
