Pros
Adobe is simply a great place to work. As en employer, it's just clear in every facet that they do the right thing, such as employee charity matching, profit sharing, and training. The encourage people to get involved with the community and give back, and more importantly , they support those efforts. As far as pay goes, Adobe is extremely fair. Each quarter I get a quarterly bonus which is made up of 3 components of which I'm acutely aware, and also a profit sharing bonus that is typically OVER the amount tha was quoted in my offer letter. Don't forget the 5 weeks of vacation either! you get 24 days of PTO per year, and if it's accumulating too fast you can CASH IT OUT in two week increments! I've never heard of that. They also reward people with stock (not stock options in many cases) for a job well done or in addition to a raise in pay at review time. All adobe products are available for purchase by adobe employees for an EXTREME discount, too. An employee can get a copy of the master collection for about 95% off its retail price, which is just unheard of. They also have a deal with Apple where employees get access to a special version of the apple store that has all discounted prices.
Cons
The sheer number of products can be daunting. It's impossible to be familiar with everything. For example I'm mostly involved with Flex and Livecycle consulting, but I dont often get a chance to work with photoshop, dreamweaver, etc, though I know these are all very heavily used technologies. they do a good job of cross training though to give people exposure to products outside of their area.