'Downside: always on call so no real days off, you are the one who has to shine the jet, you do all your own planning and catering, if you piss off the boss or shag his wife/girlfriend/fantasy you get fired, you get to clean the toilet after flight, and despite cleaning it, when the shareholders revolt you still get fired.'
On our gig we have a fixed roster (2 weeks on, 2 weeks off), and we certainly are off on our off-days. It gets better: it regularly happens that the boss decides that he doesn't need the jet for a couple of days, and sends the crew home. In other words you could be on-duty at home for a week and then run into your regular 2 off-weeks and end up with 3 weeks at home, for example.
We do not 'shine the jet'. We'd need specialized equipment as well as a day or two, the machine measuring approximately 30 metres by 30 metres.
We do not do our own flight-planning, the operations-department does that, after confirming fuel-required and any other questions with us pilots.
We do not take care of the catering, the stewardesses do.
We do not clean the toilets, the honeysucker does so on our request.
Also, when departing from the home-base the aircraft will have been removed from the hangar and will have the APU running when we board.
Which is not to say that I haven't done any/all of the above in an earlier lifetime, but have a care with generalizing, the good gigs in private GA may come as a bit of a surprise to some.
One truth was in there, though: piss off Le Grande Frommage and you'll be fired without a split-second's hesitation, that much is true. Better to not piss him off then.