Academia vs. industry

I have thought a lot about this dilemma. At the end of the day it boils to really understand “your” long term goals and which path will help you achieve that. So this is a very subjective question. There’s no right or wrong answer. So think in 10 yrs time what do you want to achieve ? and then track back if that is more probable to happen in academia or industry. Both of these paths are very different. Academia been slow paced , industry being ruthless profit oriented ( though academia is also slowly moving along those lines ) . There is lot of politics in industry and mostly street smart people thrive . In academia merit might still decide future. I have seen people switching between the two also but clarity about “who” you are will help you decide. Wish you well.

The same friends wouldn't be ready to trade life with you in academia for a lesser pay. The grass is always greener on the other side.

Quite straightforward. If you want your credentials to speak for you, choose academia. If you want your work/self-promotion to speak for you and comfortable with it, choose industry work. Phd will help you get started at a high level, to go beyond will require hard work. If you don’t mind me asking, what’s the topic of your research?