I worked as professional (non-faculty) staff for a university for a few years.
Upside: The salary was okay and benefits were great. Access to university IT resources and the libraries was nerd heaven. Access to cultural events, lectures, and reduced tuition was nice as well.
Downside: Everyone, from the profs to the janitors, were on soft money so if a large grant went south you might be gone with little warning. The more grants a position was spread over the safer it was so IT folks, janitors, accounting folks, and administrators were pretty secure. Research staff was at highest risk.