Pros
As said by many others - great products, well known brand, seen as a great company to work for. Good size (between 6000-7000 employees) - big enough to be a 'proper company' but small enough that individuals can make a difference. Hiring policy is generally to aim high in terms of candidate quality and experience, and pay accordingly. Therefore people are usually paid well on joining for their role & level. The company is generally very amenable to internal progression and there are a large number of very loyal long-serving employees around the place!
Cons
The downside of hiring at the top end is that there are a lot of clever, highly experienced individuals with limited opportunities for progression, due to a relatively flat org structure and small span of control for people managers. This can lead to frustration when people are looking for their next career move and it sometimes seems that the only opportunities to progress are outside the UK (typically US roles) or outside the company. As mentioned before, Adobe is still working hard to establish itself as an Enterprise vendor and therefore customer perception is often still 'just a Desktop company'.