In practice, what you describe is the exception to the rule within a state capitalist framework. Dependency on employers prevents many from ever coming far enough out of debt to do what they want.
I have a hard time with equating pay to exoneration or choice because reliance on any paycheck does not let you all the way out of the state or capitalist's control.
Pay is to coercion as exoneration is to execution. This does not in any way suggest that pay is equal to exoneration.
Pay is merely a civil agreement to perform for compensation so no it does not let you all the way out of state control, this is not its promises.
However it very well may put you all the way out of any particular capitalist's control, if by control you really mean enticement.
Pay is giving a man a fish and assuming he has means to stockpile fish until he can learn to fish.
Taking the example of the fisherman. I had a tenant that would fish in Alaska during the season, so I know just a little about it. I do know he would work dangerous and difficult 18 hour shifts for weeks at a time with no break. All the fishermen would get a share of what the boat catches and they pressure each other to be excellent, and the boat captain and owner gets extra for risking their equipment.
After each season he would then take some months to relax, vacation, and enjoy himself in the city of his choice around the world until he ran out of money. Then he would go back and fish again.
He is a good fisherman. Some of his friends worked several seasons in a row and together bought a boat. He now works for them.
All of those people have choice and voluntarily made that life for themselves. They are friends, and each are happy, though they are no longer all on the same side of the employee/employer relationship.
None of them consider themselves slaves, even if you might.