I'm 3 months in to a mostly-nocturnist job while taking a gap year before fellowship. I actually loved nights when I was a resident because I like the quiet and being able to really think about the admissions. Day jobs tend to be too consumed with social work issues and correct clinical documentation. I enjoy following up on consults, but I don't have to be the one calling them. Also, if you do direct care where you are first call, it is literally like being an intern again. I am lucky as I have NP/PA/housestaff so all I have to worry about is H&Ps at night.
When I was in residency I spoke to a CCM nocturnist who has been doing it for 5+ years - he is a fantastic doctor but he chose to be a nocturnists for primarily the same reasons that I outlined. His kids apparently are pretty young so they go to sleep at 7-8 PM anyway when he leaves for work and he takes them to school in the morning and picks them up in the afternoon.
I think the major pros are 1) no rounding and excessive documentation, 2) being primarily responsible for "acute" issues that arise which is all medical reasoning/more CCM type stuff, 3) higher pay than day staff for IMO less "grunt" work. The major cons are 1) a lot less continuity (it's up to you to follow-up on the patients you saw if you want to learn from what eventually happened to them), 2) the day hospitalists often dump stuff on you to do overnight, 3) slightly longer hours compared to the day staff (this may vary, my job is 7-7 but the day staff usually come in an hour or two after me and leave an hour or two early).
I work mostly stretches of 7 nights followed by 7 off (although this varies, as I'm only about 75% nights). Also, it's not purely 1 week on 1 week off so I average less than 14 days a month (closer to 12). You get into the rhythm after 3 nights but I do start missing the sunlight after 5 nights. It takes me about a day and a half to adjust back to days. I get paid a flat salary + some year-end bonuses without any RVU-billing like the day staff. I primarily oversee NPs, PAs, and housestaff that do the admissions, but also do some admissions on my own depending on service. I don't cover codes (the overnight intensivist does). I do attend to all "sick patients" overnight that are not actively coding and manage it with CCM if I have questions or if they need to be transferred to a higher level of care. Obviously the scope of your work varies greatly depending on what job you interview for. Some will require you do all admissions solo, others will require you to attend codes and do everything up to intubation and/or lines before calling CCM. Some will have you be first call at night which absolutely terrible (remember intern night float?!) and is a Bad Idea.
I'm in a major urban center and I would say that it's very easy to find a job as a nocturnist as turnover is high (a lot of people like me doing it for 1-3 years). It's definitely more of a buyer's market than academic track day hospitalists. However, I would urge you to find a model that works for you. I knew I couldn't do a pure 100% nocturnist job due to lack of sunlight (I have a very high threshold than most, but still can't work completely in the dark lol), so I worked out a hybrid model which allows me to do ~25% day shifts. Usually you can work something out with the hospital as a lot of night shifts in academic centers are covered by moonlighters and it actually saves the hospital money to hire a full-time nocturnist. Since you are in demand, try to work out a schedule that works for you. You'll just have finished residency so you'll have a good sense of how many patients you can comfortably admit, how many patients you can oversee, the acuity of patients you can comfortably manage overnight vs. the acuity of the hospital's patients, how comfortable you are with sick patients before calling CCM vs. what the overnight CCM support is...etc.
