Altogether, the processing time of your Form I-485, Application to Register Permanent Residence or Adjust Status, may take approximately 8-14 months (smooth procedure). It depends upon the USCIS work load, the basis of your application and of course upon your ability to prepare and file the adjustment of status package properly on the first try.
Usually, within 2-3 weeks after filing USCIS will send you a receipt letter called Form I-797C, Notice of Action. Further, you will need this letter to check your case status. If there are any mistakes/omission in your application, USCIS will send you a request for evidence asking for additional documents/clarifications or a notice of action rejecting your application.
Approximately, within 3-5 weeks after filing you will receive an appointment notice for biometrics. The biometrics appointment itself, where USCIS will collect your fingerprints, photograph and signature, will take place within 5-8 weeks after filing.
Roughly, within 12-16 weeks after filing you will receive your EAD card (if applicable). If you included Form I-765, Application for Employment Authorization, and Form I-131, Application for Travel Document, into your adjustment of status package you will receive a single card that contains both a work permit and an advance parole document.
Somewhere around 4-10 months after filing you will receive another Form I-797 inviting you to the adjustment of status interview. The interview itself will take place within 6-12 months after filing.
And finally, approximately within 8-14 months after the initial filing, if your application and interview are approved, you will receive your green card. Once you get the green card, you have the right to work in the United States, travel inside and outside the country, and you no longer need your EAD card. And if your application is denied, USCIS will send you a notice explaining the reasons for denial.
Note that when your Form I-485 is still pending you can visit the USCIS website and check the case processing time (https://egov.uscis.gov/processing-times/) and your case status (https://egov.uscis.gov/e-Request/Intro.do).
Also, note that USCIS will send you all the correspondence on your case via mail, so if you change your address after filing Form I-485, you have to notify USCIS by phone and submit Form AR-11, Alien’s Change of Address Card, within 10 days of your relocation.