As a parent, my primary goal in life is to provide the best I can for my child(ren) so that they will be able to live productive, and hopefully happy lives when they become adults. To achieve this goal, there are certain things I must bring to the table/sacrifice, what have you, and that includes giving them my time to teach them, assist them, as well as being a successful in my career as possible to earn as much money as possible to provide for them adequate shelter, food, clothing, and hopefully extras in life such as a college education or transportation or a gift to help assist with their first home purchase or wedding, etc..
It's a very delicate balance, and there is no real right or wrong way to go about this.
In my view, my time is much more valuable than a nominal monetary bump in pay or promotion. However, this would change depending on how large the bump in pay would be as it would more than likely afford me the opportunity to spend more time with them down the line, as well as assist them more with money, and let's face it when your kids become teenagers and above, they could give a #### about the time you spend with them, but if you can pay for their college or buy them their first set of wheels, well that would help them out tremendously.
In short, I have no great answer for you, DP. But, as my children grow older and my youngest is now 6, I wish, wish, wish I could have more time with them while they are young because they get away from us too quickly. :(
g'luck with your choice, whatever you decide.