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I made a similar transition and found that I am liking working in the public sector more than I thought I would. I made the transition right after having a kid, and I don't think I would've been able to work if I didn't move into something that is more predictable. I also like that there is a sense of mission - the work that we're doing matters to the public, too
The biggest perk (and drawback) is working for a mission rather than “make the company more money.” You get lots more latitude to get something done right rather than quickly. At the same time, because there’s no CEO whose wealth depends on the output, it’s very easy for people to fall in the trap of letting perfect be the enemy of good. It’s why agencies can move at breakneck speed when a politician, whose success does depend on output, orders something versus moving slowly when carrying out everyday business.
I just made the switch to government about 6 months ago. The biggest perk is the Work-life balance, but consistent pay increases, union protection, great retirement and health benefits were awesome as well.
The mission - public service, the stability of job - doesn't typically undergo layoffs/downsizing, once you are in, you can move to different agencies until you find the best career for you. You aren't expected to work OT on a regular basis and there are many work/life balance programs in place.
Not worth it — I left government to go private (but my clients are government). I get the best of both worlds! If culture fit is important to you government isn’t it; not sure how old you are but if under 40 don’t plan on bringing your most authentic self to work. Upward trajectory career path can also be difficult to define. Less PTO. No real bonus structures. Maternity/paternity leave is slim to nonexistent.
Here to play devils advocate. Best of luck!