Everything got risk and reward. If you sign up with
MOE with the intention of running off when complete masters, the reward will of course be a free education and job stability in the process so that you can study in peace.
Got high risk also. First off, very hard to compete in other industry. For e.g. if your masters is material sciences and you want to apply for a R&D job in a high tech MNC, you will need to compete with others who are younger, have worked in industry competitors, similar industrial attachment or internal people who studied while working within the company. You will be like an old freshie with no relevant exp, possible but difficult.
There is also the stigma of pte sector against civil servant. Sometimes it is justified as the culture difference is big and most people who switch from public to pte have problems settling in. Based on experience this is a big disadvantage during interview as they will usually ask question like why they should take the risk to hire you. Little you can do to convince except say the usual thing like you are flexible, willing to learn, can work hard etc etc
Big pay cut. By the time you finish your bond you will be making about 4.5k+, unlikely that pte sector can match your pay. Depending on the industry and company, starting pay for masters freshies can range from 2.5 - 4k. When you are young, pay cut might seem like no big deal. But by late 20s usually you will have bf/gf, thinking of settling down, getting car, getting house, going on frequent holiday etc, by then a 1k pay cut is no joke for sure.
At the end of the day, depend on whether you want to take the risk. Many people have same plan like you sign up
SAF, Police want to get free education and lobo but when the time comes to quit, they unwilling or unable because of above factors. Think carefully and walk in with eyes open.
My advice is if you join
MOE, be prepared to be a normal teacher for the rest of your life and treat any promotion to HOD/VP/P as a bonus. Dun join with the hope or expectation to get real promotion climb ladder etc, this is just setting up yourself for disappointment.