Victa
From reading pprune over the past few years, little has really changed in the past 25 years. Even the airframes are the same
I made the mistake of pulling out in the late 70's because there seemed to be no future in aviation. High unemployment, poor pay, little airline recruiting, oil crisis, poor RAAF morale/low retention rates etc etc. (The main difference was probably that the aircraft in GA were 'newer' and there was some respect for DCA.)
A mate persevered and retired a few years back as a senior long haul captain with 25,000 hours.
The easy 'better paid' option appears good at first...but once the family comes along and starts chipping away at your wallet there'll be fewer opportunities for private flying.
And the problems you so accurately identify within aviation you find are still with you no matter which industry you work in. Something to do with our competitive spirit I guess.
Eventually you may end up holding responsible and possibly prestigious positions that look great from the outside...but on the inside, all you really want to do is pack it all in and go flying.
The choice is yours.
But if I had the chance to turn the clock back 25 years, I know which way I'd be going.
(Actually, I'd take the well paid job to fund further ratings and build hours so I'm ready when opportunity knocks
)