Based on my experience of working in both side of the field I will say they both have their pros and cons, it depend on the individuals what kind of career they want for them self. If I have to compare both side of the field based on the Merits then I will simply say job in the industry is fast pace and competitive you have to be on top of your game. Definitely the industry job pays way better then academia. Their is no job security in industry job, if you don’t perform you get kicked out or if they don’t need you are job less. If you are like me who wan’t their career move forward fast and seeking for opportunity all the time then Industry is the most rewarding side. On the other hand academia is slow peace, their is no particular deadline for the projects. After years of research you might get a publication and again it depends on your projects so the career growth is really slow. The pay is not that good on this side for couple of years when you start you career but after you get Tenured you are set for your life, no one can fire you unless you get arrested for felony, so the job security is amazing on this side. Basically you can come to work at 10am and leave at 12pm after teaching your class and you are good no one can fire, also you don’t have to do research you can just teach and leave.
At this point in my life based on my career need’s I will definitely consider going to industry to get more experience of the field and most important Industry will give me a ton of opportunities to apply my book knowledge to build a real life products.