seems it’s more like being an actor in that you land a job, work your ass of to complete the project and then your done.
Except that actors are chasing fame and blockbuster paydays, and also just generally get paid more for their time due to the project-based nature of the industry (maybe not true for the starving-artist noobs). In the game industry, you're paid less for the privilidge of working on games but still need to budget for potentially months of job-hunting and relocating at literally any given moment.
Not all game jobs end up as horror stories of course, but the liklihood of any given job turning into one is much higher than normal. If you want to work in the game industry while minimizing the risk, look for studios that:
-have been around for a LONG time
-make games that you've never heard of
-are no where near any other game company physically
Places like this have found a profitable niche and are probably run more like a real company. They also have a harder time hiring people because they're in the middle of nowhere (relative to the game industry) and aren't churning out fanboy fodder. Turnover is also smaller because they don't need 2000 people to grind out content for the last 6 months of a 4 year production schedule. (Note that this might also eliminate whatever perceived benefits that you think will make a game company an improvement over your current job.)
Either way, it's hardly something that should really be considered for a passing interest. Chasing big name studio jobs is really only a good option for people who would be content spending all their waking hours working for free if the company gave them a cot and food. It's not that bad, but if you wouldn't be happy in that situation, then you'll be unhappy eventually once the shinyness wears off.
Alternitively, why not make and release your own indie game? You get to sort of see what it's like but at your own pace and with no risk (other than whatever time you want to invest), and it will make you more employable if you decide to go that route. And as an added bonus, you have the real (albeit tiny) chance of making something that actually sells, which is pretty much the only way to ever get a realpayday out of the game industry.