In my view, the high importance that money holds in life is only till we attain the basic needs. Beyond that, it is our family, friends and time we have spent with them which matter a lot. An Indian author has, hence, very rightly said that you will not remember your presentations when you die. I am of the opinion that having less pay and short working hours and spending most of the time with friends and family is key to happiness. If given an option to do so, I will definitely opt for it.
In one life which we have got we all hunt for happiness. Key to happiness is when you spend time with someone who is near and dear to you. This is quite evident in case of small kids who seem very cheerful when they are in vicinity of their parents or siblings. However, their mood swings when they do not find anyone familiar around them. Although adults do not portray so much emotions as kids do but still this feeling of happiness persists in them as well. Hence, I would definitly prefer being with my family and friends to making more money as money is something through which you can buy material commodity and not happiness.
Moreover, working for long hours also has ill effects on health. Studies show that working non-stop for long hours on computers not only affects the eye-sight but also hampers the memory. Many doctors have started receiving more cases of severe memory loss from computer engineers, specially from the ones who work for long hours. Grey cells in the brain are resonsible for generating and remembering facts and places. These cells are quite susceptible to the computer monitor radiations which reach them through the optical nerve endings, consequently, hampering the memory power of a person. Other ill-effects include sleep depriviation, increased tension, migraine, high blood pressure and diabetes. It seems better to work less than to fall prey to such health hazards which not only make your life difficult but also might prove fatal.
We are also not born just to earn money or keep on working until end of our lives. Working for appropriate hours every day provides a person enough time to look after all his needs ranging from his health, kids, family to traveling and spending time with friends. With leisure time one can also practice his interests like reading books, collecting stamps of different countries etc.
Hence, if given an option, I would definitly go with getting less payment and spending more time with family and friends.