Interesting thread. It's a subject that keeps me thinking late at night.
I'm Oxford educated, so is DH (two degrees from there, ex-top public school) and I guess once you are on that gravy train you are led to believe that the world is your oyster (it isn't, but that's another tale) and society expects you to go out and earn plenty.
Well, it was almost twenty years ago and in that time I've had poorly paying jobs, and a career in the City, and have been the longest time working as a journalist (which I love, and which is also what DH does) both at home in the UK and abroad. Ironically I've earned the highest salary as a journalist.
Strangely, before children, and when I had the most money I was the least happy. I am not destined to keep hold of it! I used to spunk it on motorbikes, shoes, drink, holidays and travel. Got myself into one or two unsavoury habits. And just being able to go into a shop and buy a Chanel handbag 'like that' felt oddly numbing and left me feeling empty. Like a character from a JG Ballard novel.
We now have two children and we both decided to halve our hours to share joint care of our children while they are small. We both find more mental stimulation, more reward, more joy and more fellowship doing this (sounds smug, I know) than one or other of us working all the hours.
It's depressing sometimes (can't generalise, of course) what hours you have to put in to earn over 100k. And to realise how little that gets you in London.
I can't speak for others but I won't go to my grave happy I spent more hours in an office dealing with colleagues and strangers for just a bit more take home pay. But I will regret not spending time with my family.
I know some of our friends (all the city ones don't really talk to us now as they live life in the City bubble -- it can be a narrow circle) think we are weird for living this life. Some men at my DH's work must think he is odd for actively choosing not to earn as much.