Thread on academia since it’s in the spotlight in the UK:
First the pros:
Possibly the biggest pro is relative self determination. We know that self determination is one of the key variables that determine happiness. I’m academia you can choose which direction and when.

Second: Relative job security. If you are in tenure you can look forward to 3 decades of job security & meeting KPIs that are frankly a doddle compared to what you would be asked to achieve in a corporate environment. Many academics are highly unproductive compared to corporates

Thirdly: Teaching and mentor ship. Shaping young minds and seeing them evolve into competent and confident experts is one of the great joys in academia.

The downsides in no particular order: 1)bureaucracy and how! Few places like to add red tape and waste time as much as University admin.

2) Hierarchy: Everyone except the VC has a boss and who lands up being your boss is entirely out of your control. Sometimes they can be great. Sometimes they can be terrible. They change often though so nothing is forever.

3) Remuneration: It’s pathetic compared to what you could earn in corporate.

4) Other than your basic KPIs there are no clear targets. For a high functioner that can mean pushing yourself way too hard and risking burnout. You have to throttle back and keep it real at regular intervals.

5) The higher you go the crappier it gets. Promotion in academia can mean better remuneration and status but it means missing out on why you became an academic in the first place & ending up doing admin, HR and finance instead of the 3 benefits I listed first.