Pros
Adobe has a lot of great products. That means as an employee there is always something interesting going on and you can pretty much choose to work on a variety of different things if you want to move around within the company. The people at Adobe are also very smart and fun to work with. Our customers are some of the best people in the world and they generally love our products. Getting to interact with designers and developers using Adobe's tools is a lot of fun. The benefits are very, very good and in I think for the most part everyone has a good work-life balance.
Cons
Adobe has a leadership/direction problem. We have good management but a lot of times management appears to have trouble making hard decisions. As a result the company seems to move in a million different directions with little products popping up and going away with no thought as to how they fit into the overall mission. Although we don't really have much of an overall mission which is maybe part of the problem. I don't think management has done a good enough job of really focusing on what our goals our. As an employee that can be frustrating and tough to deal with.