There's also freedom, and I really think that this is the most important benefit. I don't mean freedom to take vacations when you want or to work the schedule that you like, although those certainly are benefits. What I mean is freedom to control your own destiny. The most unhappy, stressed out people are those who are responsible for results, but can't do anything to affect or control those results. The happiest people, of course, are those who can control their environment.
Most people get to do that fully only in their personal lives.
We understand that all those choices won't be the best, that some of them will turn out badly, but we still want to make them ourselves. We choose our own friends, we choose our favorite foods, we choose our own hobbies, and most of us wouldn't want it any other way. Someone above you, often a faceless someone, is making decisions that can drastically affect your life, and you don't have much control at all. Unless you work for yourself, of course. That responsibility sometimes scares people.