Pros
Adobe has great technology and a widely recognized 'brand' - not just among corporate customers but with the general public as well. However, this is a bit of a double edged sword, as many equate Adobe with Photoshop, Creative Suite, etc and NOT as a provider of corporate, Enterprise solutions.
Cons
HIGHLY Political. Senior Management spends money like it is water, and then cuts hundreds (and hundreds) of positions to meet Street expectations. (Better fiduciary management would obviously either eliminate the need to cut heads or at least reduce the number affected). Bruce Chizen was a GREAT CEO and left the company a couple of years back - right at the beginning of Adobe's problems. (Hmmm..one could reasonably conclude that he knew things were going downhill and got out while the getting was good). Like Microsoft, Adobe wants to extend into "the Enterprise"market - but in my opinion lacks the ability to execute like a 'real' Enterprise Software company. This is because they have a legacy and heritage as a Desktop Software company, and this pervades every aspect of their culture and go-to-market approach. So, for those who work in the Desktop software business, Adobe is a decent place to be, and this probably is why they frequently make it into the Top 100 lists. BUT - once you get outside of the core, Desktop business, it's hit or miss as to whether your group or you personally will have a real chance to be successful. In my experience, Adobe also does not care one whit about their employees - you are a number, and a "head" that can be cut whenever a strong wind blows, or when management needs another .01 EPS per share to exceed what the Street wants.