I think service personnel are quite well paid, when the allowances, pension and job-security are taken into account.
Civvy wages might appear higher on paper, but mostly you have to pay for your own pension, you receive no contributions for kids education, and worse you have next to no job security. The cost of losing a job is very high, particularly if you have to sell up and relocate, and that is not counting the cost of stress on family life. Never under-estimate the worth of a secure job.