I'm in the sciences in the USA, and a very relevant to my field, well respected journal just advertised. I have been encouraged to apply. The workload is advertised as not egregious. I already sit on several editorial boards.
I worry that this kind of service may be better left for post tenure. My personal advisors are split: I likely have a good shot at it, some think it will be a good move, others hesitate.
I'd be very interested both in answers outright, and things to consider that I an my mentors might have missed.