I love my academic gig. We get paid on par with the non-academic hospitals in our state, including 4 paid "academic" days a month. Can't beat it. I'd put up my salary against any EM doc practicing in a community ED as a hospital employee any day. The trade off, its a small town. You can't have everything....
I honestly could never give up academics. I like making a big salary, and if this job somehow went away, I'd be hard pressed to go somewhere and make less, but I would do it in the end. Working with residents keeps me enthused. It makes the job so much more fun. I spent the first 4 years after residency working on my own in a nonacademic setting and I started to hate it. There is only so many chest pain, abdominal pain, etc cases I could see without wanting to go crazy. But now when someone else sees them, and I have to find things to teach on, it changes the dynamics of the case. Makes it more interesting to me.