It'll be different for every single parent.
For me, working part time suits (most of the time). We need my income as we live in an expensive part of the country. I work in the charity sector so pay is low and it's taken me a while to build up a reasonable pension pot. I enjoy a challenging and responsible job. It gives us something to talk about and allows us to decompress with holidays, trips etc. and we can afford extra curricular for DC
I've seldom missed a school play, sport day etc
I've worked at my organisation for a long time, and am lucky that I've now got flexibility to swap my working hours/days so I did the odd school trip as a parent volunteer which was lovely.
And I can generally make dentist appts by swapping hours.
It was hard when DC was baby/toddler. We didn't have family childcare so spent a fortune on nursery fees.
When at primary school, we spent another fortune on holiday clubs. But DC enjoyed them. I found school holidays more stressful than term time because there was a constant rush from one place to another, cooking dinner (DD had school dinners tern time), mum guilt when DD's friends were at the park or On spontaneous trips to beach etc.
Now DD is teen, she needs me less physically but more emotionally. I like to pick her up from school so she can debrief on her day.
The downside is that I still have all the housework etc to do when I finish work. I never feel as though any of my time is my own. But I suspect that's the case of the vast majority of parents. And our family income isn't quite what I'd call comfortable do I feel a little guilt that I should be working full time or in a higher paid role to take some of the responsibility off of DH.