Even with BAH, a commission, a higher rank, and lots of time in service, on average you still typically make significantly less than private industry.

However, it is predictable. If you aren't super career minded and are on track to be stuck at minimum wage for a long time, then the military provides a lot of structure and probably higher compensation.

If you have the option to get into a tech/finance/etc high paying career, then there's no contest. Entry level engineer at big tech companies make about the same wage as an O6 living in a high cost of living area and like 20++ years in service. Once you get promoted once, you're making more than a general.