Yes, the pay is a difference, but the pay difference between an junior JO (LT and below) and a Chief is negligable, considering that a chief is drawing supervosiry propay and accelarated sea pay w/kickers based on years spent on sea time. Factor in SRB installments, and I would say that the difference is pretty slim until the O hits the LCDR level.
Officers and Chiefs are on the same team, but have different roles to play. In baseball terms, the JO is the General Manager while the Chief is the Head Coach.
I wouldn't care to trade.