Pros
They have a great corporate culture, great benefits, very competitive pay, most people are very friendly and you get to work around very knowledgeable co-workers, generally speaking, a great work/life balance, flexible schedules (as long as you get your work completed), can sometimes work remotely, a great in-house cafeteria that is nominally subsidized, a gym at work, and top--level talent.
Cons
It all depends who you work for: if you don't have the support of your manager it can severely limit your opportunities for career advancement or training/cross-functional learning opportunities. They tend to keep people siloed doing one particular function, and do not really promote expanding your skillset. There is a "tuition reimbursement" program, but it is completely not a guarantee that you will be reimbursed, and you need to get the approval of your manager before you can even seek it out. Many people at Adobe have been lucky to have encouraging managers who mentored them and always presented them with opportunities to grow professionally - I was not lucky in that arena.