The problem is that there are 'better' avenues in the civil.
Pay, uninterrupted family life, no nomadic existence of self and family, schooling problems, poor housing and a long waiting list for allotment of family accommodation, DANGER of losing life and limb, apart from other issues.
Yet, having seen the lives of the well paid MNC people including my children, my personal opinion is that their lives are too hectic and they burn themselves up pretty fast. Yes, money gives one comforts of life and fulfilling desires to own things that their parents could not dream of, but their hectic life, hardly gives them time to enjoy any of the stuff they have acquired.
In the Army life is regulated. Hence, tensions and uncertainties are less. Army cares for you for your legitimate needs. In the civil you are on your own.
In the Army, you are not worried about the 'pink slip'. In the civil, you never know when you will be surprised, be it staff shedding, inefficiency or whatever. In the Army, that is not the case. However, the problem is that even if you are good, you could be overlooked since there was not the vacancy in the next rank when your course came up for selection. Less slots and so the competition is very high.
As for subjectivity in promotions, that is there also in civil life and even more.
In the Army, playing games is a parade. It is to keep yourself physically fit and mix with your command at an informal level. It is good for man management. In the civil, you could pursue your physical activities, on a weekend. Weekends are the only time when a MNC chap can be with his family since he comes home daily late and if it is a two income family, then the tensions are more, as both have their individual timings.
In short, the Armed Forces, may not pay you as much as an MNC, but the actual quality of life is far, far better and the sense of brotherhood is a great comfort in times of need.