When comparing Adobe Premiere Pro CC vs Final Cut Pro X, the Slant community recommends Final Cut Pro X for most people. In the question“What are the best non-linear editors (NLEs)?” Final Cut Pro X is ranked 2nd while Adobe Premiere Pro CC is ranked 8th.
Specs
Ranked in these QuestionsQuestion Ranking
Pros
Pro Widely used
Easy to find tutorials, documentation and support.
Pro Works well with other Adobe programs
This program is made to interact very well with the other Adobe production apps like After Effects, SpeedGrade, Soundbooth, Photoshop and others. Adobe programs can dynamically link with each other, so when an update occurs in Premiere it will update in other software accordingly.
Pro GPU accelerated rendering on Windows
Nvidia and ATI cards are supported.
Pro PC and Mac support
Works on both Windows and OS X
Pro Subscription / cloud-based model
Ensures that the latest version of the software is always installed. Allows saving preferences (such as workspace layout and keyboard shortcuts) in the cloud, so the preferences can be loaded on a different machine. Users can even download personal settings from each other.
Pro Window-based layout, allows for a more flexible workspace
Pro Advanced tracking feature
Moving objects can be tracked using Premiere. Once an object is identified, certain effects (like face blurring) can be applied.
Pro Multicamera editing
Multi-camera sequences can be created based on in or out points, timecode or even audio, allowing users to to edit multi-camera setup in real-time via keyboard or mouse. Additionally, Premiere can display camera angles as track or clip names.
Pro GPU accelerated rendering on Mac
Pro Native ProRes & DNxHD support
Pro Smart Rendering
An option called "Smart Rendering" will not re-render a file that is of a certain format that it also exports to, it will just tack it on, reducing render time and artifacts.
Pro VST plug-in support
Pro Works with basically any resolution
Technically up to 10240x8192px, but QUHD probably won't be a standard for a while.

Pro GPU utilization

Pro Powerful media organization

Pro Resolution independence

Pro Real-time graphics and effects

Pro 64-bit architecture

Pro Native format support

Pro Full high-quality pro-res support
Pro Integration with Motion

Pro Multicam editing

Pro ColorSync-managed color pipeline
Cons
Con Licensing much more expensive than competition
The cost of the adobe system over a 3 year span is significantly higher than other comparable editors. Their licensing for schools is particularly problematic as updates aren't available for site licenses in a timely manner, leaving us with compatibility issues with students using their own licenses at home.

Con Slow and choppy performance working with 4K or higher resolution
Working with REDcode 4K or higher brings the performance and stability of Premiere down.
Con Import doesn't support some file extensions
Such as mp4 and mkv which are popular formats, are not supported.
mp4 is supported, use the correct codec such as H.264
Con Render times and timeline performance is much slower than competitors
Premiere is the backlight is almost all disciplines and gets beaten by far by Final Cut and the direct Windows-competitor DaVinci Resolve .
Con You need lots of plugins
For example tracking is something Final Cut can't do. Only with a plugin which costs (example) around 100$.
As well as for advanced colour correction you have get a third-party plugin.
Con Important compatibility and format issues
Breaks compatibility with previous versions of FCP and does not support industry standards such as EDL, OMF, AAF. You can export to their version of XML and use third-party tools for a workaround (with limited success).
Con Works only on OS X
Con Color grading is unfamiliar and nonprofessional
Especially compared to Premiere's Lumetri Color Panel in 2015 cc.
