Pertaining to Federal Government, P.E. is required for certain GS13 and above positions. Also, it will give you 1-up on your peers when putting in for a promotion. However, other programs in the Government such as (LDP, ELP, etc.) tend to outweight a P.E. license when moving up into a supervisory or managerial position. Technical competence tends to be less important and leadership skills more as you move up.
Gov. does not seal drawings and engineers are protected under the Gov. umbrella. Thus, in a design environment, a P.E. is irrelevant. Most designs are contracted out to A-E firms and the Gov. requires licensed professionals to sign and seal drawings. In-house designs do not require such.
If your company pays for the test and license fee as well as gives you administrative leave to take the test resulting in minimal out of pocket expense, then I say take it. Else, go work in the private or Gov. sectors and avoid consulting jobs.
And yes, It helps get the chicks.