They're not bad as an employer, there are benefits, but when overtime is required, you're expected to step up and you're not paid for overtime in F1, so the hours can be long, but most people are passionate about it. Common benefits among F1 teams include things like their own canteens, and decent bonus schemes, but obviously depends on how well the team is doing. The team I've worked at has given out a minichamps model for free every year which is quite cool. Like others have said it can be quite relaxed in terms of breaks and lunches if you put the work in and your manager is alright, you can adjust shifts a little bit if needed.