I wanted to add my own anecdotal experience.
I taught college-level chemistry and physics at a military academy preparatory school for seven years. I was very good at my job. I was recognized as “Science Instructor of the Year” two years in a row, and “Instructor of the Year” once.
I was given a great deal of autonomy–I was allowed to prepare my own syllabus, which only had to be approved by my departmental supervisor. I prepared all of my own quizzes, exams, and finals. I taught three classes of about 25 students each. Also, as an active-duty officer, I was paid very well. In fact, even after working as an engineer for the last 6 years, I am not yet earning what I made when I left the military (when you adjust for inflation).
Also, and most importantly, I absolutely loved teaching.
Unfortunately, all good things come to an end, and the job ended when I could no longer extend my assignment at that duty station. When I subsequently got out of the military, I briefly considered teaching in the civilian sector.
However, there were several obstacles to this. I had a bachelor’s and a master’s degree in engineering, but no degree in education. To teach in a public school, I would have to jump through a lot of hoops to get certified, and was looking at just about twice the teaching load (5-6 classes) for half the pay. At the time, my wife was home with our youngest child, so I was the sole wage-earner. A 50% pay cut was not feasible. And teaching in a private school paid even less.
My other alternative was to get a job in engineering, which is the course that I took. Now, six years later, I am getting paid very well, but I don’t particularly like my job. And frankly, I was a better teacher than an engineer.
In short, I left a profession that I loved and was very good at because of pay considerations. That being said, I still entertain thoughts of going back to teaching at some point.