Pros
You get good growth opportunities and their is good diversity of work and Adobe encourages people to move between roles and expand their skills. It takes lot of care of its employees and make sure they are decently compensated. Adobe gives you opportunity to learn and innovate things. I like the fact that each employee is respected for the skills he brings to his job. You have a great work life balance. You have times when one needs to stretch himself. You have easy access to senior management if you have any issues. I like the fact that Adobe has managers who act as mentors for their reportees.
Cons
At times, people feel Adobe is a laid back that doesn't know how to monetize its tools. PDF and Flash have the highest penetration in the PC world and even then we are not 10% the size of the Redmond company. We need to know how better to monetize our super cool products. Adobe office outside of US don't rub the same culture as that of Adobe US. You need to fly coach class even when you are travelling on US. It hurts to see people from India campuses flying in a coach class for 24-26 hours and then off to work the next day.