The pros and cons usually mentioned in this connection are:
- 1. Time: if you work 8 hours a day at something else, you will have much less time and energy to focus on Sanskrit (and) Philosophy. However, University staff often laments the fact that they have to focus on different aims, such as teaching undergraduate classes on "Introduction to South Asian studies", writing projects, dealing with administrative problems, etc.
- 2. Reunification of Career and Hobby (again, see this post by Amod Lele): officially working on the topics you love may make you more responsible towards them. However, if you a rebel or a procrastinator (i.e., someone who is ready to do whatever, in order to avoid fulfilling her primary duty), you might end up noticing that you spent more time on research when you were not officially researching.
- 3. Money: Many would say that the fact of being paid is in itself something more than pleasant and that during the present crisis, it is very difficult to find jobs at PhD level. However, I am assuming here that the ultimate goal is one's happiness and that money plays a noteworthy, but not exclusive role, for it. Moreover, in the present crisis, one (almost) only finds temporary positions which are not particularly well-paid.
- 4. Students: I tend to think that the pleasure of interacting with students is an end in itself. However, people engaged in undergraduate curricula in the US often hate their dull students, who come to the class only because they have to.
- 5. Colleagues: Working on the Academia may mean having many interesting colleagues with whom you can discuss and share ideas. However, this is often not the case, and one may happen to share more gossip than research ideas, whereas the web is often a great place to virtually meet people with similar aims.
Long story short: The Academia is part of the world and it is not intrinsically better, nor worse than it. Working in it or outside it have both advantages and disadvantages and choosing for the one or the other must ultimately depend on an accurate self analysis: is one a rebel or an obliger? Does one appreciate having to do what one loves? Can one be in love with one's wife/hisband? If the answer to the latter two questions is no, it is probably better for one's happiness to work outside the Academia.
What has been your experience, within or without Universities (etc.)?