I have no axe to grind either way here as no DCs (I work full time if that's at all relevant). Most of my friends have children and I don't know one single SAHM. Talking to two of my friends recently, both with 2 under 5. One works because financially it makes sense for her family as they couldn't manage on one wage, the other it actually doesn't make sense financially but she has a job she loves in a specialist field and she knows if she takes X years out her skills will be out of date and she will struggle to get back into her field.
Both talk about the constant feeling of never being good enough - being a crap parent because they are worn out from work, being a crap employee because they've been up all night with the baby. Being a crap wife, daughter, sister because they have nothing left to give after work and DCs have taken their toll.
I don't have a view on whether SAHM or WOHM is 'better' for the DCs. What I do suspect is that being a SAHM produces far less conflict and stress. Just my view with no experience though before anyone flames me!
One of the reasons I'm not going to have DCs is that I would have to work for financial reasons. And I can see just how bloody hard it is. I talked to one of the friends above about it and was surprised by her response 'you're very sensible. I adore the ground mine walk on, but if I had had any idea about how hard it would be, how much of a balancing act constantly, I wouldn't have done it either'.
If I could be a SAHM I'd do it in a heartbeat.
The problem, in my view, is the lack of support for WOHM. Not so much financial, but practical. Employers with good creche facilities. Government run childcare that isn't extortionate in city centres where lots of people work. More flexibility for fathers to work part time to take more of the childcare brunt. For me its not so much whether SAHM or WOHM is 'better', that's individual to each family. It's that the choice for most isn't there and so they have to WOHM and as a nation we're just not set up to support it. I'm equally sure there are many SAHMs who would love to work but the sums or practicalities don't add up.
Those who are genuinely free to choose either way are v v lucky IMO. And I don't know any of them!